Herff, Jones Inc., Indianapolis, hired New York Life as bundled provider of its $100 million 401(k) plan, said Robert C. Brown, retirement plan administrator. Plan officials wanted to see what else was available, he said; previous bundled provider Merrill Lynch was asked to rebid. The plan will offer 11 investment options, up from seven, and 11 model portfolios, up from three, he said. The model portfolios are based on risk tolerance.
Defined Contribution Advisors assisted.