SEARCHES AND HIRES

SH Group signs Fidelity as new record keeper

SH Group Inc., New York, hired Fidelity Investments as record keeper of its profit sharing and 401(k) plan, said Jacyntha Nidhan-Persad, senior associate and human resources manager - benefits, in an email.

Fidelity replaced John Hancock Retirement Plan Services, effective March 1. The company sent an RFP in 2016 to five vendors, including John Hancock, Ms. Nidhan-Persad said.

“As part of the committee’s goal to continuously provide the best and most cost effective plan options to participants, it was time to review other record-keeper offerings,” Ms. Nidhan-Persad said.

As of Dec. 31, 2015, the SH Group Inc. Profit Sharing and 401(k) Plan had $79 million in assets, according to the company’s most recent Form 5500 filing. As of that same date, the plan had 15 investment options and a target-date fund lineup managed by T. Rowe Price Group.

Ms. Nidhan-Persad said no investment options changes are being planned, except for a few share-class changes.