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Thursday, March 16, 2006

Vantagepoint IRA Broadens Horizons

by: Marie Glancy

ICMA-RC announced Wednesday that it has substantially enhanced its no-fee Vantagepoint IRA, bulking up the vehicle's platform with offerings from several top mutual fund companies.

ICMA-RC -- an independent, non-profit organization based in Washington, D.C. -- is the leading provider of retirement plans to the public sector. As of February 28, 2006, it administered more than $25 billion in retirement plan assets for over 700,000 public sector participants.

As a service to investors, said a press release, ICMA-RC has added twenty-one new fund options from 11 mutual fund families. Among the providers of these new funds: T. Rowe Price, Fidelity Investments, and PIMCO.

Previously, ICMA-RC had offered only eight funds outside its own twenty-seven Vantagepoint Funds, so this announcement signals a considerable expansion. Between Vantagepoint and other funds, Investors in a Vantagepoint IRA may now choose from a roster of 56 funds.

ICMA-RC recently eliminated IRA fees in a bid to strengthen appeal among public sector workers. Another aspect of this effort has been the introduction of target-based funds to the Vantagepoint Funds array.

 

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