Empire District Electric Co., Joplin, Mo., hired Vanguard as bundled provider of its $36 million 401(k) plan, said Judy Baker, compensation and benefits manager. The plan terminated American Express Retirement Services because of poor investment performance and administrative services, and inadequate technology and investment education. The plan now has 18 investment options, up from five, she said. Defrain Mayer advised on the change.
A spokesman at American Express said the firm is revamping its portfolio management and fund offerings.
