Mentor Graphics Corp., Wilsonville, Ore., has narrowed its search for an administrator and record keeper to three candidates, said Brandi Morgan, benefits analyst. The $160 million 401(k) plan asked current administrator and record keeper Howard Johnson to rebid, and the firm is a finalist. Current trustee Wells Fargo also is a finalist. Ms. Morgan would not identify the third firm.
Howard Johnson has done a good job in its 10 years of service but plan officials want to see if there are less expensive options; they should make a decision by the fourth quarter, she said. Arnerich Massena is advising.
Ms. Morgan added that plan officials also are considering a trustee search, although no decision has been made on that yet.
