Jo-Ann Stores Inc., Hudson, Ohio, is completing a shortlist search for a consultant to help the $52 million 401(k) plan find a bundled provider, said Tom Williams, vice president of HR services. Officials hope to name a consultant, likely to be a local firm, by mid-December, Mr. Williams said. An RFI for a bundled provider will be sent to 10 or 12 firms by late January, he said.
Officials are disappointed with the performance of the 15 investment options available through AMVESCAP, the current bundled provider, Mr. Williams said. AMVESCAP can rebid.
A new provider should be hired by next summer.