SEARCHES & HIRINGS
Southwire Co., Carrollton, Ga., added the Alliance Growth Fund to its defined contribution plan to replace American Funds' AMCAP Fund. Plan officials felt the long-term performance of the Alliance fund was better, said Frank E. Deems, vice president of finance. Mr. Deems would not reveal the size of the employee-directed plan. American Funds will continue to provide the plan's remaining four options. PaineWebber assisted.
Holy Name Hospital, Teaneck, N.J., selected New York Life Benefit Services to administer a new 401(k) plan. Eight investment offerings will be available, most from New York Life.
The hospital terminated its $25 million defined benefit plan and will launch the 401(k) plan this summer. Peter Noble, director of human resources, said the bulk of the assets will be moved into the new 401(k) plan.