HNI Corp., Muscatine, Iowa, hired FidelityInvestments as bundled provider for the company's two 401(k) plans, said Dave Hoogheem, benefits manager. Fidelity is currently bundled provider for HNI's $571 million office furniture employees' plan, American Express was bundled provider for the $90 million hearth products employees' plan. The other finalist was Vanguard Group. The company issued an RFP in January.
Plan 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 assisted.