East West Bancorp modifies 401(k) plan lineup with MFS fund addition
East West Bancorp Inc., Pasadena, Calif., added the MFS Growth Fund to the investment options lineup of its 401(k) plan in 2020. As of Dec. 31, the active domestic large-cap growth equity fund managed by MFS Investment Management had $55 million in assets in the plan, according to the company''s June 25 11-K filing with the SEC. A comparison of this year''s 11-K filing and last year''s filing shows the plan removed the American Funds Growth Fund of America from the lineup in 2020. As of Dec. 31, 2019, the active domestic large-cap growth equity fund managed by Capital Group had $43 million in assets in the plan, according to the company''s prior 11-K filing. The new 11-K filing did not provide a reason for the change. As of Dec. 31, the East West Bank Employees 401(k) Savings Plan had $412 million in assets, according to the new 11-K filing. Julianna Balicka, director of strategy and corporate development, and Irene Oh, chief financial officer, could not be immediately reached for further information.
East West Bancorp modifies 401(k) plan lineup with MFS fund addition
East West Bancorp Inc., Pasadena, Calif., added the MFS Growth Fund to the investment options lineup of its 401(k) plan in 2020. As of Dec. 31, the active domestic large-cap growth equity fund managed by MFS Investment Management had $55 million in assets in the plan, according to the company''s June 25 11-K filing with the SEC. A comparison of this year''s 11-K filing and last year''s filing shows the plan removed the American Funds Growth Fund of America from the lineup in 2020. As of Dec. 31, 2019, the active domestic large-cap growth equity fund managed by Capital Group had $43 million in assets in the plan, according to the company''s prior 11-K filing. The new 11-K filing did not provide a reason for the change. As of Dec. 31, the East West Bank Employees 401(k) Savings Plan had $412 million in assets, according to the new 11-K filing. Julianna Balicka, director of strategy and corporate development, and Irene Oh, chief financial officer, could not be immediately reached for further information.