Crown Vantage, Oakland, Calif., hired Vanguard as a bundled provider for its 401(k) plan. Vanguard replaces State Street Global, which also was strongly considered, said a fund official, who would not give the size of the plan. Vanguard will provide about the same number of options - five mutual funds plus two company stock options. The transition will take place April 1. Main & Co. assisted.
Illinois Tool Works, Glenview, Ill., added a Putnam window option to its $750 million defined contribution plan. The window option will contain 20 Putnam funds, a money market fund and an income fund.
Putnam's S&P 500 Index Fund and International Fund, an equity fund, will be added to the plan's list of nine core funds.