American Skandia is leaving the defined contribution record-keeping...

American Skandia is leaving the defined contribution record-keeping business, said Matthew Della Croce, spokesman. The business was not profitable, he said. American Skandia will concentrate on its mutual fund and variable annuity business, which is "what we do best,” he said. The company will continue to serve existing clients but will stop taking new qualified plan business after July 1. The change will affect less than 3% of its workforce, many of whom will be offered positions elsewhere in the company, he said.