Intuit Inc., Mountain View, Calif., hired Great-West Financial as record keeper of its 401(k) plan.
Fidelity Investments is the current record keeper. The change is effective Jan. 2, the company’s benefits website said.
The reason for the change was not given. Also effective Jan. 2, the plan is changing its investment lineup. The lineup will consist of a stable value fund managed by Putnam Investments and five passive funds managed by State Street Global Advisors: three domestic equity funds (large cap, midcap and small cap), one domestic fixed-income fund and one international equity fund.
The plan will also add a custom target-date fund lineup to replace the previous lineup managed by Pyramis Global Advisors.
As of Dec. 31, according to the company’s most recent Form 5500 filing, the plan offered the American Funds Growth Fund of America, Jennison U.S. Small Cap Equity Fund, Goldman Sachs Mid Cap Value Fund, Neuberger Berman Socially Responsive Fund, PIMCO Total Return Fund, and six other funds managed by Fidelity Investments.
Further information on the current lineup was not made available.
The Intuit Inc. 401(k) plan had $1.2 billion in assets as of Dec. 31, according to the Form 5500 filing.
Joshua Newmister, global retirement leader, and Rob Lanesey, chief communications officer, did not respond to requests for further information by press time.
