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Rating:Is Apple Really Changing its 401k Plan? Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 08, 2012

Is Apple Really Changing its 401k Plan?

News summary by MFWire's editors

Is Apple really swithing its 401(k) plan to invest in ETFs? Index Universe is throwing cold water on those reports (including MFWire's), pointing out that Benzinga has pulled its story on the changes.
The article was heavily linked and rewritten throughout the ETF blogosphere, appearing on Bloomberg, MarketWatch and numerous other aggregators and content-borrowers.

The only actual live, current source for the story was a piece over at Employee Benefit News headlined “Pied piper of plan sponsors?” in which author Kathleen Koster spins a tale of how 401(k) plans will be made better by ETFs. It contains this paragraph mentioning Apple:
However, Index Universe itself does not mention and sourcing for its debunking of the earlier reports. The story does hint that it has "off-the-record" comments to that effect.

An reporter for MFWire's sister publication did attempt to reach both executives running Apple's retirement plans and executives at Schwab at the end of last week and both companies did not comment.

Index Univese adds that Apple had a "normal" 401(k) plan with $1.6 billion in total assets, including $1.3 billion in mutual fund assets according to filings that include plan data from year-end 2010. The plan also included some assets held in collective trusts, and $23 million invested through a brokerage window.

"So yes, Virginia, there might be a few ETFs in that brokerage window, but that's it," according to Index Universe.

You can find the Apple plan form 5500 filed with the Department of Labor on Brightscope.

The bottom line is that we see smoke, but still no fire.  

Edited by: Sean Hanna, Editor in Chief

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