Northwest Natural Gas Co., Portland, Ore., hired Fidelity Investments as record keeper of its 401(k) plan, spokeswoman Melissa Moore said in an email.
Fidelity will replace T. Rowe Price Group. Ms. Moore said the change was made because the company decided to move to a "total retirement management" solution consolidating various responsibilities with one provider, including "401(k) record keeping, pension administration, investment manager selection and monitoring, trust and custodial services, actuarial, and pension consulting." She said T. Rowe Price has been a "great partner," but it does not offer that range of services.
She did not provide information on other providers that were replaced.
A blackout period for participants will begin at 4 p.m. EST on Dec. 6 and end during the week of Dec. 17, according to an 8-K filing with the SEC on Monday.
As of Dec. 31, the Northwest Natural Gas Co. Retirement K Savings Plan had $196 million in assets, according to the company's most recent 11-K filing with the SEC.
