SunSource, Addison, Ill., hired MassMutual as bundled provider of its $21 million 401(k) plan, said Tracey Kugelard, human resources manager. MassMutual replaced investment manager Frank Russell and record keeper Northern Trust, Ms. Kugelard said. Plan officials wanted a bundled approach, she said, and also felt that Frank Russell's fees were too high for a plan of their size. Frank Russell rebid.
The plan now offers 14 investment options, up from seven. Bear Stearns assisted.