Harris Corp., Melbourne, Fla., kept Fidelity Investments as the record keeper of a newly merged 401(k) plan that resulted from the firm’s purchase in June of Exelis Inc., McLean, Va., said Patrick Baumann, assistant treasurer.
The merger of the plans was completed at the end of December, Mr. Baumann said, and through due diligence he said the company chose to keep Harris’ record keeper, Fidelity Investments. Voya Retirement Services was the Exelis 401(k) plan record keeper.
Mr. Baumann said the new plan has about $6 billion in assets.
The merged plan retains the investment options lineup of the Harris plan, Mr. Baumann said. The only change is the addition of a Fidelity Investments brokerage window. The plan previously has 14 investment options and a lifecycle fund lineup managed by BlackRock.
Mr. Baumann did not provide information on the Exelis’ previous lineup.