Federated Investors outsources record keeping to Great-West

Federated Investors will outsource its record-keeping business to Great-West Retirement Services by early 2006, said Meghan McAndrew, Federated spokeswoman. Federated will outsource 619 plans with a total of 84,500 defined contribution participants representing $2.6 billion in assets, Ms. McAndrew said. Great-West has 12,000 retirement plan sponsors and 2.5 million defined contribution plan participants. Ms. McAndrew said it was not yet determined what would happen to the 70 Federated employees affected by the move.