Sony Corp. of America hired T. Rowe Price to be the record keeper for the Sony USA 401(k) Plan, New York, effective Jan. 2, replacing Empower Retirement.
The announcement is posted on a T. Rowe Price website for Sony employees.
According to the statement, the changeover includes the new feature of allowing participants to make Roth contributions. Also, the plan's administrative expenses will be reduced to $54 per person per year from $56.
The Sony USA 401(k) Plan had $3.56 billion in assets as of Dec. 31, 2017, according to the latest Form 5500 filing.
Further information could not be learned.