Playtex Products Inc., Westport, Conn., hired Merrill Lynch Group Employee Services as bundled service provider for its $100 million 401(k)/profit-sharing plan, said Don David, benefits manager at Playtex.
Seven investment options will be offered - five from Merrill Lynch plus the Aim Constellation and Templeton Foreign funds.
Merrill also will provide daily valued record keeping, administration and employee communications.
The plan previously had two options: an internally managed GIC fund and an equity option that split its assets between the Fidelity Magellan and Vanguard Windsor II funds. Record keeping had been internal.