WD-40 Co., San Diego, hired Empower Retirement as record keeper of its profit-sharing/401(k) plan, said Stanley Sewitch, vice president, global organization development.
The change is effective May 16. Empower replaces Fidelity Investments. Mr. Sewitch said the retirement committee put the services up for bid last year as part of a routine review it makes of its vendors every few years, and that Fidelity was part of the bidding process.
A blackout period for plan participants will begin at 1 p.m. PDT on May 4 and end during the week of May 29.
As of Dec. 31, 2014, the WD-40 Co. Profit Sharing/401(k) Plan had $67 million in assets.
