Petroleum Helicopters Inc., Lafayette, La., hired MFS as bundled provider for its $100 million 401(k) plan, said Angie Quebedeaux, senior benefits adviser. MFS replaced J.P. Morgan/American Century Retirement Plan Services because its funds were not performing, it lacked adequate educational services for employees and it did not respond to the plan’s concerns in a timely manner, she said.
Gabrielle Gagliardo, spokeswoman for J.P. Morgan Fleming, declined comment on the issue.
The investment options offered by the plan will increase to 12 from nine funds, she said.
