Fort Howard Corp., Green Bay, Wis., transferred $60 million of its 401(k) plan from the Bankers Trust Capital Appreciation Fund to the firm's Russell 1000 large-cap growth index fund. The investment advisory board originally wanted to hire an active large-cap manager and planned to hire a consultant to conduct a search.
Plans were changed following the announcement of Fort Howard's merger with James River Corp., said Vincent Gentile, manager-treasury services. Fort Howard's plan has $800 million in assets and may be merged with James River's $400 million 401(k) plan later.
Future changes to the plan will be up to James River, Mr. Gentile added.
Oce Printing Systems, Boca Raton, Fla., outsourced the investment and administration of its $13 million defined benefit pension plan and $32 million 401(k) plan to CIGNA Retirement & Investment Services. Oce officials are still in the process of selecting investment options and asset allocations for both plans.
A spokesman declined to identify previous service providers.
Mercy Medical Center, Baltimore, hired Diversified Investment Advisors as bundled service provider for the center's new 401(k) plan. Mercy is converting its $26 million 403(b) plan to a 401(k) and selected six Diversified mutual funds representing major asset classes as well as three Diversified lifecycle funds