McNamee, Lochner, Titus & Williams PC, Albany, N.Y., hired Vanguard as bundled provider for its 401(k) plan and money purchase plan, according to Jorge Valero, McNamee spokesman. BISYS was bundled provider for the 401(k) plan and Smith Barney performed the same services for the money purchase plan. He said that McNamee was happy with both providers but wanted one provider who would allow participants to self-direct their investments in both plans. Each plans now offers the same 16 investment options, including six Vanguard Target Retirement Funds, which are age-based asset allocation funds.
The plans have a combined $14.9 million in assets, according to the Money Market Directory.