TJ International Inc., Boise, Idaho, hired Fidelity to provide investment management and record-keeping services for the company's newly restructured $100 million defined contribution plan, said Brenda Miklos, benefits specialist.
The hiring is part of a move to combine TJ's $80 million 401(k) plan and $20 million employee stock ownership plan as one plan with features of both.
The combined plan, tentatively set to start in mid-June, will offer five investment options from Fidelity and retain an existing company stock option. It also will offer daily valuation, switching from the previous quarterly.
The former 401(k) plan offered three investment options from Columbia Management and Morley Capital, in addition to company stock. Hewitt Associates had been the record keeper.
R.V. Kuhns & Associates assisted the company with the changes.