Fairmont Hotels & Resorts, Toronto, hired INVESCO Retirement to run...

Fairmont Hotels & Resorts, Toronto, hired INVESCO Retirement to run its $23 million 401(k) plan, which resulted from the merger of three non-union plans, said Tracy Desmond, manager, compensation and benefits. The three plans had different service providers: CIGNA, Great West and Merrill Lynch. The consolidated plan retained some of the asset classes from the former plans but not the same funds. The 14 new mutual funds are managed by INVESCO, AIM and IRT, said Ms. Desmond. Fairmont executives expect to review the plan’s options later this year, and they may add automatic enrollment sometime in the future, she said.