Hubbard Construction Co., Winter Park, Fla., hired Prudential Retirement as record keeper for its $35 million 401(k) plan, said P. Frederick O’Dea Jr., Hubbard’s vice president and secretary.
Prudential replaced T. Rowe Price, and the contract took effect Jan. 1, Mr. O’Dea said in an e-mail.
Mr. O’Dea cited “enhanced administrative, compliance and education capabilities” for the 401(k) plan as Hubbard’s reason for choosing Prudential. Hubbard issued an RFP in September. T. Rowe Price was not invited to rebid, he wrote. He did not elaborate.