Smiths Group of North America, Philadelphia, merged the $75 million 401(k) plan of John Crane International Inc., Morton Grove, Ill., into its $500 million 401(k) plan, said Bob Meiner, manager of compensation and benefits at John Crane. The two companies merged in December 2000, but the plans had been administered separately until this year, when officials decided to consolidate them to "get economies of scale," Mr. Meiner said.
The Smiths Group plan offers 26 investment options and uses Fidelity as bundled provider. The John Crane plan had used Vanguard as bundled provider and offered eight investment options; only the Vanguard PRIMECAP fund will still be available through the Smiths Group plan, Mr. Meiner said.
Towers Perrin assisted.