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March 07, 2017 12:00 AM

SH Group signs Fidelity as new record keeper

Rob Kozlowski
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    SH Group Inc., New York, hired Fidelity Investments as record keeper of its profit sharing and 401(k) plan, said Jacyntha Nidhan-Persad, senior associate and human resources manager - benefits, in an email.

    Fidelity replaced John Hancock Retirement Plan Services, effective March 1. The company sent an RFP in 2016 to five vendors, including John Hancock, Ms. Nidhan-Persad said.

    “As part of the committee’s goal to continuously provide the best and most cost effective plan options to participants, it was time to review other record-keeper offerings,” Ms. Nidhan-Persad said.

    As of Dec. 31, 2015, the SH Group Inc. Profit Sharing and 401(k) Plan had $79 million in assets, according to the company’s most recent Form 5500 filing. As of that same date, the plan had 15 investment options and a target-date fund lineup managed by T. Rowe Price Group.

    Ms. Nidhan-Persad said no investment options changes are being planned, except for a few share-class changes.

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