Lykes Bros. Inc., Tampa, Fla., retained AMVESCAP Retirement as bundled provider of its $16 million 401(k) plan, said Rich Hetherton, director-human resources, risk management and compliance. Plan officials had considered a shortlist search for a replacement, following the market-timing investigation into subsidiary INVESCO Funds Group, but they renegotiated with AMVESCAP and dropped the INVESCO Dynamics and Small Company Growth funds, two investment options that were linked with the probe, Mr. Hetherton said. The Wells Fargo Small Company Growth fund was added as an option, he said. AMVESCAP will also offer participants free investment counseling and access to a new online retirement planning tool, he said. J.H. Ellwood assisted. Bill Hensel, AMVESCAP spokesman, did not respond to a request for comment by press time.
The plan will offer eight investment options, down from nine.