The Raymond Corp., Greene, N.Y., hired Fidelity Investments as record keeper of its two 401(k) plans, said Steve VanNostrand, executive vice president of human resources.
The company hired Fidelity as record keeper following the consolidation of multiple 401(k) plans with multiple record keepers into two plans for the company and its subsidiaries, Mr. VanNostrand said. He said the company was happy with the previous record keepers, but wanted to consolidate to a single record keeper. The change was effective April 1. The plans have a combined $235 million in assets.
He would not name the previous record keepers, but according to a recent Form 5500 filing, Merrill Lynch, Pierce, Fenner & Smith was the record keeper of The Raymond Corp. Saving Plan as of Dec. 31, 2014. That plan had $146 million in assets as of that date. Further information on the other DC plans could not be learned by press time.