Teamsters, International Brotherhood, Washington, hired MassMutual Retirement Services as bundled provider for its $200 million National 401(k) Plan, according to a news release from MassMutual. The plan moved its assets and records over Labor Day weekend, with no blackout period. It offers 11 investment options, of which 10 are mutual funds: MassMutual Stable Value, Fundamental Value, Indexed Equity, Overseas, Small Company Growth, and Total Return Bond; Oppenheimer High-Yield Bond and Capital Appreciation; Janus Balanced; David L. Babson Small Company Opportunities; and a self-directed brokerage account. Investment Consulting Services assisted.
Teamsters officials did not respond by press time to requests for additional information. The plan's previous bundled provider was CitiStreet, confirmed Mike Bezdek, CitiStreet spokesman.