Compass Group merges DC plans, terminates record keepers

Compass Group USA Inc., Charlotte, N.C., merged two of its subsidiaries’ 401(k) plans into its Compass Group Retirement Plan, confirmed Robert Kovacs, vice president-compensation/benefits/HRIS.

The 401(k) plans of Crothall Healthcare and Southeast Service Corp. were merged with the parent company’s 401(k) plan effective Jan. 1. The Compass Group Retirement Plan’s record keeper is Wells Fargo Institutional Retirement and Trust.

Crothall’s record keeper, Ascensus, and Southeast Service’s record keeper, Trust Co., were terminated as a result of the merger.

As of Dec. 31, 2011, the Compass Group Retirement Plan had $459 million in assets, according to its most recent Form 5500 filing.