Jack Henry & Associates reprocesses 401(k) fund with 5 new funds

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Jack Henry & Associates Inc., Monett, Mo., added five index funds managed by Fidelity Investments to the investment options lineup of its 401(k) plan in 2020.

As of Dec. 31, the Fidelity 500 Index Fund, Fidelity Mid Cap Index Fund, Fidelity U.S. Bond Index Fund, Fidelity Total International Index Fund and Fidelity Small Cap Index Fund had $120 million, $24 million, $9 million, $7 million and $6 million, respectively, in assets in the plan, according to the company’s 11-K filing Tuesday with the SEC.

A comparison of this year’s 11-K filing and last year’s filing shows the plan removed six similar index funds in 2020, five of which were mutual funds managed by Vanguard Group and one of which was a separate account managed by QMA.

As of Dec. 31, 2019, QMA’s Dryden S&P Index Fund separate account had $73 million in assets in the plan, according to the company’s prior 11-K filing.

Also as of that date, the Vanguard Mid Cap Institutional Index Fund, Vanguard Total Bond Index Fund, Vanguard Total Stock Index Fund and Vanguard Small Cap Index Fund had $22 million, $7 million, $6 million and $5 million, respectively, in assets in the plan, according to the prior 11-K filing.

The new 11-K filing did not provide a reason for the changes.

As of Dec. 31, the Jack Henry & Associates Inc. 401(k) Retirement Savings Plan had $1.1 billion in assets, according to the new 11-K filing.

Heather Sugg, spokeswoman for Jack Henry & Associates, could not be immediately reached for further information.

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