Saint Louis University, St. Louis, hired TIAA-CREF as sole bundled provider of its 401(a) and 403(b) plans, confirmed Elisabeth C. King, benefits manager.
TIAA-CREF and Fidelity Investments had been the providers.
The university switched to a single provider because of provisions in the Pension Protection Act of 2006 as well as new IRS regulations, Ms. King said in a telephone interview.
The 403(b) plan has $937 million in assets, and the 401(a) plan has $388 million in assets.
