Mall of America, Bloomington, Minn., hired Milliman as record keeper for its Mall of America Employee Retirement Savings Plan, said Sue Amundson, human resources director, in an email.
Milliman replaced Wells Fargo Institutional Retirement and Trust on Wednesday. Milliman will provide record keeping, administration, communication and compliance services.
The plan's investment consultant, Channel Financial, assisted with the search for a record keeper. Wells Fargo did not rebid, Ms. Amundson said.
"We interviewed three record keepers and selected Milliman for their reputation of being a trusted service provider who values their clients," Ms. Amundson said. "We believe our partnership with Milliman will provide our HR team the support and assistance to bring the best retirement plan and service to our team members."
Ms. Amundson did not provide the reason for the search nor identify the other record keepers who were interviewed.
As of Dec. 31, the Mall of America Employee Retirement Savings Plan had $21.4 million in assets, according to its most recent Form 5500 filing.
