National Manufacturing Co., Sterling, Ill., outsourced administration and record keeping for its $58 million 401(k) plan to Strong Retirement Plan Services. It made the change so that participants could receive better service, said Robert Jones, assistant treasurer. Strongs partner, UMB Bank, will replace Amcor Bank as trustee.
The plan also will add two fixed-income and two equity funds, which were not identified, to its current lineup of seven investment options.
All changes are expected to go into effect July 1.