Five sponsors of corporate defined contribution plans are making changes.
Executives at World Color Press, Greenwich, Conn., are reviewing RFPs for a single provider for a 401(k) plan that is being formed from merging 14 plans of recently acquired companies.
A decision is expected by the end of September. The plan is expected to have in excess of $100 million, said Pat Russo, head of the plan.
The company also hired SEI Investments as a manager of managers for its $150 million cash balance plan formed by combining six plans. The company terminated all of the previous managers for the plans, said Mr. Russo. He wouldn't name them.
AES Corp., Arlington, Va., might add three options to its $270 million plan.
Fund officials are discussing adding an international small-cap equity option, a fixed-income option and a self-directed brokerage option to be handled by the plan's current provider, Merrill Lynch.
If approved, the options would be added by the end of the year, said Leith Mann, administrator. The plan currently has seven options.
Alban Tractor Co., Baltimore, added the T. Rowe Price Growth Stock Fund and The Vanguard Group Growth Portfolio Fund as options in its $40 million defined contribution plan, said Steve Scherer, personnel manager.
Alban dropped Fidelity's Institutional Equity Fund because of turnover in portfolio managers, Mr. Scherer said.
The Alban plan now has seven investment options.
Mercantile Safe Deposit & Trust assisted in the changes.
The $30 million-plus defined contribution plan of AMC Entertainment, Kansas City, Mo., will add an equity index fund.
Jim Beynon, treasurer, is not sure when the new fund will be added, but said that it is on his "to do list." The plan has eight options.
He expects AMC gradually will drop the plan's balanced funds in favor of adding more index funds from current provider The Principal Financial Group.
AMC executives do no expect to hire new managers for the new options.
American Re Insurance Co., Princeton, N.J., is planning to add more investment options to its $72 million 401(k) plan, said Mary Ann Nyman, associate vice president of employee benefits.
Seven options from Merrill Lynch are offered. Fund officials will consider additional Merrill funds as well as outside funds made available through Merrill.
Any changes would be effective Jan. 1.
