URS Corp., San Francisco, hired Fidelity as bundled provider of its $921 million 401(k) plan, pending contract negotiations, said Jeff Belfiore, retirement plan manager. Trustees wanted a single provider after recently consolidating three plans: the company's original $688 million URS plan, which had American Express as bundled provider; the $154 million plan of subsidiary EG&G Technical Services Inc., which used Fidelity; and the $79 million plan of EG&G affiliate Lear Siegler Services Inc., which used CIGNA, Mr. Belfiore said. Each incumbent was considered in the shortlist search, he said. Merrill Lynch Investment Consulting assisted with the fund selection.
The newly combined plan will offer 12 investment options. The change will take effect Jan. 1.