Delaware Motor Group, Wilmington, hired Brandywine Benefits as bundled provider for its new $2.4 million 401(k) plan. The plan replaces a previous defined contribution plan in which employees were not allowed to direct their contributions and for which the National Automobile Dealers Association Retirement Trust was bundled provider.
The plan has 24 fund options: Lincoln Life short-term money market, government bond, government/corporate bond, high-yield bond, value equity, core equity, equity index 500, large-cap equity, midcap equity, midcap value, midcap growth equity, small-cap equity, small-cap index, international equity, global growth, social awareness, conservative balanced, balanced and aggressive balanced; Delaware International global bond, Deleware Management growth and income; Janus Fund; T. Rowe Price international; and Fidelity VIP II Contrafund.
The employees wanted the company to switch to a 401(k) plan, said Michael Uffner, president of Delaware Motor Group.
