United Technologies has made changes to its two 401(k) plans, Pensions & Investments reports. The U.S. conglomerate has $16 billion in DC assets, of which $14 billion are in a plan for salaried workers, while $2 billion is in a plan for union employees.
The Connecticut-based company reduced investment options to nine from 19 and slashed the number of investment managers. United Technologies has also replaced actively managed mutual funds with passive ones and appointed Aon Hewitt to replace Fidelity Investments as record keeper.
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