Mason Street Funds
has informed plan sponsors who use its funds in 401(k) plans that two funds will cease to be available in connection with the planned reorganization at Mason Street.
The Stable Asset Fund
and Mason Index 400 Stock Fund
will no longer form part of the investment options in the plan, according to an
dated February 14.
Milwaukee-based Northwestern Mutual, which owns the Mason Street fund family, announced plans last December to sell 10 of Mason Streetís 11 funds to American Century Investments. The Index 400 Stock Fund, meanwhile, will be bought by Federated Investors.
The proposed reorganization will be taken up at a shareholder meeting on March 15.
According to the filing, the Stable Asset Fund will no longer be available as an investment option after March 31, while the Index 400 Stock Fund will cease to exist after March 31. Mason Street suggested the American Century Prime Money Market Fund
as an alternative to the Stable Asset Fund.
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