C.H. Robinson Worldwide Inc., Eden Prairie, Minn., hired American Express Retirement Services as service provider for its $90 million 401(k) plan, replacing U.S. Bank, said Troy Renner, treasurer-tax director. U.S. Bank was ‘‘behind the technology curve,’’ he said. Officials at U.S. Bank did not respond by press time.
Although the plan’s new investment options have not been selected, the lineup likely will be similar to the current one. The funds are: First Asset balanced, stable value and equity index; Brinson global balanced; Duncan-Hurst midcap; Webster Partners small-cap to midcap; Eastcliff small-cap; and Putnam international growth. Mr. Renner added that a brokerage window may be added at a later date.
The new options are expected to be in place in July.
