The $27 million 401(k) plan of Rocco Enterprises Inc., Harrisonburg, Va., was overhauled, bringing the plan daily valuation record keeping, investment management and client services through a bundled program from Twentieth Century Mutual Funds.
Participants can select one of three risk diversified strategic asset allocation funds, managed by Twentieth Century, or construct their own portfolios using four diversified mutual funds from Twentieth Century and a stable value fund managed by Bankers Trust. The two-track approach is designed to simplify investment for Rocco's diverse force of 4,000 employees, said David Momen, manager of treasury.
Rocco's plan was previously unbundled, using quarterly valued record keeping from Godwins, Booke & Dickenson and an equity fund from Phoenix, a balanced fund managed by INVESCO and a GIC fund from LaSalle.
