The American Institute of CPAs, Jersey City, N.J., hired Schwab as bundled provider for its $28 million 401(k) plan. Schwab replaces Citibank as custodian, Met Life as record keeper and BEA Associates as money manager, said Dale Atherton, director of financial management. Other finalists were Merrill Lynch, MetLife, Vanguard and Twentieth Century. SEI assisted.
BEA had managed the fund's assets in a balanced portfolio. Now, eight mutual funds will be used.
