American Chemistry Council, Arlington, Va., hired Strong Retirement Plan Services as semibundled provider for its $25 million 401(k) plan, said Angela Spicer, vice president of human resources. Strong replaces bundled provider Merrill Lynch; Ms. Spicer declined to say why the change was made. Plan executives chose Strong because of its "outstanding customer service, including education, she said.
The plan will offer 15 investment options, up from 12. It also may add a self-directed brokerage account once employees have had sufficient education about it, she said.