Stillwater Mining Co., Billings, Mont., hired Prudential Retirement as record keeper of its 401(k) plans, said a letter to plan participants posted on the company's website.
Prudential Retirement will replace MassMutual Financial as record keeper on Dec. 1.
As a result of the changes, a new fund lineup will be offered. Additional information on the new fund options and the reason for the switch could not be learned by press time.
As of Dec. 31, 2013, the Stillwater Mining Co. 401(k) plan and the Stillwater Mining Co. Bargaining Unit 401(k) plan had about $211.5 million in assets combined, according to the company's most recent 11-K filing.
Andrew Forcier, who works in the company's human resources department, and spokesman Mike Beckstead could not be reached for additional information by press time.