The Toro Co., Bloomington, Minn., hired JPMorgan Retirement Plan Services as record keeper and administrator of its $445 million 401(k) plan, according to a news release from JPMorgan. Putnam Investments was the previous provider. Laura McNamara, a Putnam spokeswoman, said, "We are disappointed about their decision but hope we will have an opportunity to manage resources again for them in the future."
Joyce Lilienthal, director-compensation and benefits at Toro, did not return calls for comment.
