Jarden Corp., Rye, N.Y., hired Bank of New York as trustee and record keeper and investment provider for the companys $32 million 401(k) fund, effective Oct. 1, said David Tolbert, vice president-human resources and administration. BNY replaces Vanguard.
The plan will offer 10 investment options, up from eight. They are: BNY money market and value; MFS value equity, core growth, international equity, emerging growth equity and government securities fixed income; Fidelity midcap equity; Alliance balanced; and Dreyfus S&P 500 index funds. Jarden made the change "because we have a number of banking relationships with the Bank of New York, and this is really just a bundling of services, Mr. Tolbert said. The plan didnt use a consultant, he said.