Regions Financial Corp. 401(k) Plan, Birmingham, Ala., hired MassMutual Financial Group as record keeper, according to the company’s 8-K filing Tuesday.
Mercer and Transamerica Retirement Solutions had been the $1.42 billion plan’s record keeper.
MassMutual will become record keeper on Jan. 1, according to the filing. The plan will be in a blackout period from Dec. 23 to Jan. 13.
Regions has a company match for employee contributions up to 4% of pay.
The plan currently has 14 investment options and a suite of target-date funds managed by T. Rowe Price, according to Regions’ website.
Regions also has a $1.94 billion defined benefit plan.
Jeremy King, Regions spokesman, was unable to provide further details.
