ADM picks Mercer as DC administrator

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.