Herb Chambers Cos., Somerville, Mass., selected Prudential Retirement as bundled provider for its $35 million 401(k) plan, said Bob Clark, managing director of retirement services at retirement consultant The Bostonian Group, which conducted a search earlier in the year. Prudential replaces Putnam; company officials were concerned about “uncertainty” relating to Putnam’s sale to Power Corp. of Canada, Mr. Clark said. Bruce Spatz, CFO of Herb Chambers, did not return a call before press time.
The plan now offers 12 investment options, compared with 18 previously.
