Bradlees Inc., Braintree, Mass., hired New York Life Benefit Services as bundled provider for its two 401(k) plans one for salaried employees and a year-old union plan which have $41 million in combined assets, said Fred McGrail, vice president. New York Life replaces State Street Global.
The plans each will have the same 10 investment options: a stable value account by New York Life and funds managed by PIMCO, Davis, MainStay, INVESCO, Janus and Deutsche. With the exception of the PIMCO fund, the options are new.
New England Pension Consultants assisted.