American Airlines Inc., Fort Worth, Texas, is searching for a single record keeper for its 401(k) plans, confirmed Mary Anderson, managing director, health and welfare.
The search was prompted by completion of the company’s merger with US Airways Inc. on Dec. 9. American hired Towers Watson as a consultant to assist in the search.
Fidelity Investments is current record keeper of the US Airways plans, while J.P. Morgan Retirement Plan Services is record keeper of the American Airlines plans.
American Airlines’ 401(k) plans had $7.9 billion in assets as of Sept. 30, according to Pensions & Investments data, while US Airways’ 401(k) plans had $3.6 billion as of Dec. 31, 2012, according to the company’s most recent Form 5500 filing.
Ms. Anderson could not provide further information on the timing of the search.
