St. Jude Medical Inc., St. Paul, Minn., hired J.P. Morgan Retirement Plan Services as bundled provider of its $200 million 401(k)/profit-sharing plan, effective in January, said Jim Bishop, director of compensation and benefits. J.P. Morgan replaced American Express, which was allowed to rebid, Mr. Bishop said. Plan officials had not conducted a provider search in "quite some time," he said, and wanted to evaluate the top firms in the business.
The plan will offer 15 investment options, up from nine. Mercer Human Resource Consulting assisted.