One of Richard S. Lustig's first tasks as director of compensation and benefits for COMSAT Corp., Bethesda, Md., will be to evaluate investment options for the company's approximately $65 million 401(k) plan.
The company has a company stock plan, a GIC option, and five funds through Boston-based Fidelity Investments, the bundled service provider. They are the Magellan fund, the Fidelity Contrafund, the Fidelity Spartan Fund, the Fidelity Balanced Fund and the Fidelity Growth Company Fund, but no international stock funds, or bond funds.
"That's one of the things I'm going to look at," he said about his new post. He hopes to complete his review and changes by year-end.
Mr. Lustig previously was director of retirement services at US Air Inc., Arlington, Va., where he has not yet been replaced.
At COMSAT, he replaced Christine Wolf who left the firm to join a start-up telecommunications company.