Holiday Cos., Minneapolis, hired Putnam Investments to provide quasi-bundled services for its $43 million profit sharing/401(k) plan, said Robert Nye, vice president of human resources. Putnam will run five investment options; First Trust will run one. Putnam also will provide daily valued record keeping services, trust and administration, and employee education and communications. Mr. Nye wouldn't identify the previous service providers.
Holiday also is moving July 1 to a participant-directed profit-sharing plan with a 401(k) contribution feature; it currently has an employer-directed profit-sharing plan. Defined Contribution Advisors assisted.