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TCW Intl. Small Cap in, Oppenheimer Intl. out in Intl. Stock Option; Roth 401(k)s coming…

The Directed Account Plan Board of Directors decided at its March 8, 2011 meeting to terminate the participation of the Oppenheimer International Small Company Fund (OSMAX) in the International Stock Option. Replacing Oppenheimer in the Option, with Oppenheimer’s former 8% allocation, will be the TCW International Small Cap Fund (TGICX).

The TCW International Small Cap Fund was recently established by the former portfolio manager of Oppenheimer International Small Company, Rohit Sah, who parted ways with Oppenheimer last month.  The objective of the TCW fund is to seek long-term capital appreciation and according to the fund, it “will invest… in equity securities of small capitalization companies that are domiciled outside the United States or whose primary business operations are outside the United States”.

At its recent meeting, the Board also approved the use of Roth 401(k)s in the DAP. To do a full or partial conversion of an existing qualified DAP account to a Roth, a participant must be eligible for distribution from the Plan. This includes all former TWA employees and all CommunityAmerica employees over age 59½.  Current CACU employees will be eligible to make after-tax contributions to a Roth 401(k) account from their salaries should they chose to do so. Look for more information about the new DAP feature in the coming weeks.

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