Memorial Health Services, Long Beach, Calif., will switch its defined contribution plan to bundled provider Vanguard early next year, said Cheryl Nichols, executive assistant to the treasurer.
The $180 million plan will increase to 20 options from six options. Ms. Nichols would not release the names of the plan's current providers. According to Nelson's Directory of Plan Sponsors, the managers were Dreyfus, Patterson Capital a nd Provident Investment Counsel. The search was done in-house.
HGP Industries Inc., Dallas, selected Diversified Investment Advisors as bundled service provider for its $11 million 401(k) plan. Diversified will provide six investm ent options (including three lifecyle funds), record keeping and administration.
The plan was consolidated with Diversified after merging four plans, two of which were managed by Cigna and one each by Prudential and Massachusetts Mutual.
Steamship Historical Society of America Inc., Providence, R.I., hired AMAS Securities to manage its $1.8 million endowment fund, said Bradford Hatry, treasurer. The balanced portfolio initially will be skewed toward core diversified growth equities, said Mr. Hatry. He wouldn't identify the previous manager.