Michael Baker Corp., Coraopolis, Pa., in early January will start a shortlist search for a bundled provider for its $110 million 401(k) plan, said Wendy Grindell, qualified plan specialist. Incumbent Putnam Investments can rebid, Ms. Grindell said. Plan officials are conducting the search, the first since 1996, for "benchmarking purposes" only, she said, and not in response to the market-timing charges against Putnam. The process is expected to be complete by June. No consultant will be used.
The plan offers 16 investment options.