Continental Airlines pilots' union hired Schwab Retirement Plan Services as bundled provider for the pilots' $650 million 401(k) plan and a new defined contribution plan, said Jim Moody, spokesman for the Continental Master Executive Council, a unit of the Air Line Pilots' Association. The pilots' plan was split from the overall 401(k) plan for all employees of Houston-based Continental earlier this year as part of the union's new contract with the airline. Hewitt Associates is bundled provider for the Continental plan, which had total assets of $1.37 billion as of Dec. 31, 2003, according to Money Market Directory. Hewitt was considered for the union plans, Mr. Moody said. He referred additional questions to other union officials, who were unavailable by press time for comment.
Julie King, Continental spokeswoman, referred questions to the pilots' union.