Novant Health Inc., Winston-Salem, N.C., hired Fidelity Investments as record keeper of its two defined contribution plans, said a participant brochure posted on the company's website.
The change is effective July 18. A blackout period for participants begins at 4 p.m. EDT on July 15 and ends during the week of July 31. The current record keeper is Empower Retirement. Whether Empower rebid could not be learned by press time.
The brochure did not provide a reason for the change; the plans will have a new investment lineup but the brochure did not specify which options were new and which were being replaced.
As of Dec. 31, 2014, the Tax-Deferred Savings Plan of Novant Health Inc. had $944 million in assets, and the Savings and Supplemental Retirement Plan of Novant Health Inc. had $896 million in assets, according to the company's most recent Form 5500 filings.
Novant Health spokeswoman Tenisha Waldo declined to comment.