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District of Columbia Selects Aetna Funds

The District of Columbia has selected Aetna Life Insurance and Annuity Company of Hartford, Conn. to supply its 401(a) defined contribution plan to the District's 13,000 employees who currently have $208 million invested.

Girard Widdicombe, District of Columbia project coordinator, said the district selected the Aetna plan because of its "ability to provide superior financial education to the District's diverse employee population." In addition, the district liked the fact that Aetna could offer a fund that invests in minority-owned companies, the Chapman Domestic Emerging Markets Fund, Widdicombe said.