Transwestern Group, Chicago, hired CIGNA Retirement & Investment Services as semi-bundled provider for its $21.5 million 401(k) plan, said Colleen Dolan, senior vice president of human resources at Trans-
western. The plan, which has 1,000 participants, now has 14 investment options and a new self-directed brokerage account. Most of the investment options are provided by CIGNA, Ms. Dolan said, but she declined to identify the outside managers.
The previous provider was First Mercantile. "We were looking for someone with an excellent reputation in the 401(k) business, Ms. Dolan said. "We wanted to upgrade our communications level and education level with our team members.