Hartford HealthCare, Hartford, Conn., hired Fidelity Investments as record keeper and Capital Group as target-date fund provider for its 401(k), 403(b) and 457 plans, which have combined assets of almost $1 billion, said Kevin Edwards, senior investment director.
Both are expected to start July 1, Mr. Edwards said. He would not identify the firms that Fidelity or Capital Group replaced.
The changes were part of a review of Hartford HealthCare's defined contribution plan providers that has concluded, Mr. Edwards said. Along with the target-date fund suite and a self-directed brokerage window, the plans have the same 13 investment options; Mr. Edwards said that more mutual funds could be added "should it make sense to do so" as part of Hartford HealthCare's ongoing fiduciary review.
Fiduciary Investment Advisors, investment consultant to the plans, assisted with the hires and is assisting with the fiduciary review.