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.
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.