Searches and Hires;

Sartorius signs Fidelity as new 401(k) plan record keeper

Sartorius Corp., Bohemia, N.Y., hired Fidelity Investments as record keeper of its approximately $50 million 401(k) plan, effective April 1, 2018, said Mary Lavin, president and managing director at Sartorius North American region, in an email.

An RFP was issued this spring to see what other firms were capable of providing, Ms. Lavin said.

The previous record keeper, Transamerica Retirement Solutions, was not asked to rebid, said Sheldon M. Geller, president and managing member at Stone Hill Fiduciary Management, in an email. Stone Hill assisted with the search. He did not elaborate on why Transamerica was not invited.

Transamerica spokesmen could not immediately provide a comment.