HNI Corp., Muscatine, Iowa, is choosing among finalists in its search for a single bundled provider for its two 401(k) plans, said Dave Hoogheem, benefits manager. Fidelity is bundled provider for the company's $571 million office furniture employees' plan, and American Express is the bundled provider for the $90 million hearth products employees' plan. Fund officials are considering the two after recently eliminating T. Rowe Price and American Express from consideration; they expect to make a selection within the next week, Mr. Hoogheem said. The company issued an RFP in January.
Fund officials intend to combine the plans, but they are discussing the matter with outside counsel Gray, Plant, Mooty, Mooty & Bennett.
The office furniture employees' plan offers 17 investment options and the hearth products employees' plan offers 15 options. FiduciaryVest is assisting.