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Wesco International 401(k) retirement plan: the investment options

Does your 401(k) vote the way you would? $3.75bn of the $6.48bn in the Wesco International plan votes in secret. Fidelity 500 Index Fund, the most common fund in the plans we track, publishes every vote: answer 3 of its ballots, then see your result.

The question on the ballot

As filed

The Wesco International 401(k) holds $6.48bn. Of the $4.01bn we could identify from the plan’s own filing, 93.5% sits in funds that publish no record of how they voted your shares — collective trusts, which unlike a mutual fund file no Form N-PX and leave no public trace of a single vote.

SourceWesco International’s own annual retirement-plan filing with the SEC (Form 11-K, Schedule of Assets) · open the filing

What the plan holdsVehicleVoting recordValue
listed as “Total Investments” Not identified from the filing Not counted either way $2.21bn
Collective Investment Trust Fund Total Collective trust or separate account NONE $1.77bn
LOOMIS SAYLESlisted as “Loomis Sayles Large Cap Growth Trust Class C” Collective trust or separate account NONE $288m
Registered Investment Companies Total Registered fund PUBLISHED $239m
CAPITALGROUPlisted as “Great Gray Capital Group 2030 Target Date Trust Class MS” Collective trust or separate account NONE $219m
SPARTANlisted as “Spartan 500 Index Pool Class C” Collective trust or separate account NONE $213m
CAPITALGROUPlisted as “Great Gray Capital Group 2040 Target Date Trust Class MS” Collective trust or separate account NONE $185m
CAPITALGROUPlisted as “Great Gray Capital Group 2035 Target Date Trust Class MS” Collective trust or separate account NONE $184m
CAPITALGROUPlisted as “Great Gray Capital Group 2045 Target Date Trust Class MS” Collective trust or separate account NONE $131m
SPARTANlisted as “Spartan Mid Cap Index Pool Class C” Collective trust or separate account NONE $118m
CAPITALGROUPlisted as “Great Gray Capital Group 2050 Target Date Trust Class MS” Collective trust or separate account NONE $97m
CAPITALGROUPlisted as “Great Gray Capital Group 2025 Target Date Trust Class MS” Collective trust or separate account NONE $95m

The 12 largest holdings in the plan. “Vehicle” is the description the filing itself gives each investment.

Why there is nothing to show

A mutual fund has to file Form N-PX every year listing every vote it cast on your behalf. A collective investment trust does not. It is a bank-run vehicle sold only inside retirement plans, it is cheaper, and it is now where most 401(k) default money sits — including most target-date funds, which is where savers who never chose anything are put.

So the shares bought with Wesco International employees’ retirement savings are voted every proxy season — on executive pay, on board seats, on climate and workforce proposals — and there is no public document anywhere recording how. This is not an oversight by Wesco International; it is what the disclosure rules currently require, which is to say: nothing.

What you can do

Check whether your plan offers any registered fund as an alternative — those publish their records, and you can read them here. If it does not, the menu itself is the thing that has to change, and that is a decision made by the plan’s fiduciary committee, not by you alone.

See how funds that do publish voted →

CoverageWe classified 65.3% of this plan’s assets from the filing. The figure above is the share of the money we could classify; anything we could not identify is excluded from it rather than assumed either way.

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