Pilot Corp., Knoxville, Tenn., hired American Express Institutional Services as the bundled provider for its $12 million 401(k) plan, said Kathryn Inklebarger, supervisor of employee benefits. The firm will provide investment management, record keeping and education services. Investment options will be an income fund, a bond fund, three lifestyle funds, an S&P 500 index fund, a midcap growth fund and an aggressive growth fund.
Mercer had been the plan's administrator. First American Trust provided money market accounts and two other firms ran equity and bond portfolios. Ms. Inklebarger declined to name the fund's equity and fixed-income managers. The search was done in-house.