California Water Service Co., San Jose, Calif., hired Charles Schwab as record keeper, administrator and trustee of its $72 million 401(k) plan, said Gerald F. Feeney, vice president and CFO. The plan had handled those responsibilities internally; plan officials decided that outsourcing would provide better service to employees, he said. The plan offers 13 investment options, on which Watson Wyatt consults, he said.
The plan did not use a consultant for the hire.
