Yahoo! Inc., Santa Clara, Calif., hired Vanguard as the bundled provider for its 401(k) plan, effective March 31. The plan was happy with the service provided by current bundled provider Manulife, said Shannon Stubo, public relations manager, but because of Yahoos growth over the past few years, the company felt it needed a more sophisticated provider.
The plan has seven core funds and three lifestyle funds. Ms. Stubo did not disclose asset total or the names of the plans 10 options.
Manulife representatives were unavailable for comment by press time.