GlobalFoundries U.S. Inc., Santa Clara, Calif., hired Prudential Financial as record keeper of its 401(k) plan, according to a brochure for participants on the plan's website.
Prudential replaced Fidelity Investments effective Dec. 15, and the reason for the change was "based on thorough analysis and benchmarking," according to the brochure.
Further information on investment options lineup changes was not immediately available.
As of Dec. 31, 2016, the GlobalFoundries U.S. Inc. 401(k) Plan had $508 million in assets, according to the company's most recent Form 5500 filing.
GlobalFoundries officials could not be immediately reached to provide further information.
