Louisville Bedding Co., Louisville, Ky., hired Fidelity as bundled provider for its $14.5 million 401(k) plan, replacing Fifth Third, said Lynn Way, manager-compensation and benefits. Fidelity will offer 12 options, up from four previously. The plan will switch to daily from quarterly valuations, Ms. Way said.
The bundled approach reduces cost, she said.
The plan’s trustee is ADP Retirement Services, and administration is handled internally. The changes will take place in October, she said.
