Woman's Hospital, Baton Rouge, La., hired Diversified Investment Advisors as bundled provider of its 403(b), 401(a) and 457 plans, which have a combined $32 million and mirror each other, said Theresa Bourgoyne, benefits manager. Diversified replaced MetLife. Plan officials decided to search for a new provider to bolster the defined contribution program by including lifecycle funds after freezing the $15 million pension plan in March, she said.
Some funds were changed, but Ms. Bourgoyne declined to detail the moves. The plans now offer 12 investment options and four lifecycle funds. It previously offered nine options.