System Software Associates, Chicago, hired Putnam Investments to provide fully bundled services for its $7 million 401(k) plan, said Chris Hanson, treasurer. Putnam is managing six diversified options, and provides daily valued record keeping, trust and administration services and employee education and communication.
The plan previously was unbundled, with four investment options. Mr. Hanson declined to identify the firms previously providing services. The company eventually will add the assets of two 401(k) plans from acquisitions made in 1995, bringing total assets up to $9 million, Mr. Hanson said