ADM picks Mercer as DC administrator
By Kevin Olsen | February 25, 2013 12:07 pm
Archer Daniels Midland Co., Decatur, Ill., hired Mercer as administrator of its 401(k) plans for salaried and hourly employees, confirmed spokeswoman Jackie Anderson.
Mercer replaces SunGard. There will be a blackout period for participants from March 19 to April 5.
As of Dec. 31, 2011, the ADM 401(k) and Employee Stock Ownership Plan for Salaried Employees had $996 million in assets, and the ADM 401(k) and Employee Stock Ownership Plan for Hourly Employees had $311 million in assets, according to the company's Form 5500s.
