American Honda, Torrance, Calif., hired Fidelity Institutional...

American Honda, Torrance, Calif., hired Fidelity Institutional Retirement Services to be the bundled provider for its 401(k) plan as of July 1, said Natalie Enoki, manager of compensation, benefits and payroll. Currently, about 3,700 of Honda’s 5,100 eligible employees participate in the $227 million 401(k) plan. Honda also expanded the number of investment options in the plan from eight to 14, including five of Fidelity’s life cycle portfolios, called Freedom Funds, Ms. Enoki said. Honda is keeping three funds — PIMCO Total Return, Templeton Foreign fund and MFS Emerging Growth — which it is getting through Fidelity’s alliances, she added. Honda’s plan is now unbundled, she said. Towers Perrin is record keeper, Northern Trust is trustee and Merrill Lynch provides all of the investment options, Ms. Enoki said.