Dynetics Inc., Huntsville, Ala., hired New York Life Benefit Services as semibundled provider for its $65 million 401(k), money purchase and employee stock ownership plans, said Robert Wilkes, head of the firms investment advisory committee. New York Life replaces Zurich Scudder, which was terminated because of problems with the ESOP, he said. He would not give further details.
Options now include a State Street Brokerage self-directed brokerage account, a New York Life Anchor account and the following mutual funds: Zurich Scudder Global Discovery; Janus Fund; INVESCO Dynamics; Oppenheimer U.S. Government Trust and Global; PIMCO Total Return; Eclipse Index Equity; Mainstay MAP Equity; Davis New York Venture; RS Emerging Growth; Strong Advisor Small-Cap Value; Oakmark Select; and three Barclays Global Investors lifestyle funds.
Zurich Scudder executives declined to comment, said Laura Trumble, spokeswoman.