NU Online News Service, Feb. 19, 4:47 p.m. – CIGNA Retirement & Investment Services, a unit of CIGNA Corp., Hartford, has won a contract to provide 14 retirement plan investment options and related administrative services for members of the New York City District Council of Carpenters’ Annuity Fund.
The fund has assets of more than $650 million, CIGNA says.
Trustees have directed the investments in the past, but the fund will now give participants a chance to choose their own mix of investment options, the council says.
The fund serves 10 local unions and about 20,000 active and retired members.
Investment options will include a balanced fund and a stable value fund, CIGNA says.