OMelveny and Meyers LLP, Los Angeles, selected Fidelity as bundled provider for its 401(k) plan. The plan, which has more than 20 options, chose to outsource management to get daily valuation, daily transfers and an increased range of investment choices.
Also, the firm may hire an external investment consultant for its defined benefit plan. It has interviewed several candidates and expects to make a decision within three months, said Wayne Jacobsen, partner. The fund is not accepting additional proposals.
According to the Money Market Directory, the 401(k) plan has $58 million in assets and the defined benefit plan has $16 million in assets.