St. Jude Medical Inc., St. Paul, Minn., is eliminating the American Express Stock Fund as an investment option in its $145 million 401(k) plan because of poor performance, said John ONeill, manager-corporate benefits. A replacement will be selected in July, he said. The plan now has eight fund options and a self-directed brokerage account. American Express is bundled provider.
Separately, the plan will begin a review within the next two months of the administration costs and fees associated with each option, Mr. ONeill said. The review should be completed by the end of the third quarter.