Deluxe Corp., Shoreview, Minn., is searching for investment managers, a record keeper and a trustee for its $1.7 billion money purchase profit-sharing plan and its $81 million 401(k) plan, said Morris Goodwin Jr., treasurer.
Deluxe hired Jeffrey Slocum & Associates to assist in establishing investment guidelines and policies and help with the searches. The company expects to complete the searches by August, and then implement the restructuring in six to nine months.
The company wants both plans to use the same managers and external administrators. The plans now use different money managers; First Trust is the trustee for both.
For equities managers, it is considering domestic large-, mid- and small-cap growth and value and international. In fixed income, it is considering short-term, money market and stable value.
For record keeper and trustee, it is considering both a single organization to provide all services or separate providers for each.
The company asked Slocum to consider unbundled and bundled approaches.
