Penn Federal Savings Bank, West Orange, N.J., hired Prudential Retirement Services as bundled provider for its $36 million 401(k) plan, replacing BISYS Retirement Services, said Laura Beckmeyer, director of human resources. Company officials made the change to reduce fees, she said. The plan will offer 12 investment options, up from nine.
Daniel Briggs, spokesman for BISYS, could not be reached by press time.
