Kerry Inc., Beloit, Wis., hired American Funds as investment provider, Ceridian as record keeper and administrator, and Security Trust as trustee for its newly consolidated $34 million 401(k) plan, said Connie Lumpkins, benefits manager. Principal was investment provider, record keeper and administrator for Kerry Inc.s 401(k) plan, and MassMutual was investment provider, record keeper and administrator for Shade Foods Inc.s 401(k) plan, she said. Both plans were self-trusteed, she said.
The combined plan has 11 investment options, the same number each plan had offered before the consolidation, she said. Salomon Smith Barney advised.
Parent Kerry Group acquired Shade Foods in 1999.