MDU Resources Group, Bismarck, N.D., hired Principal Financial Group as record keeper of its 401(k) plan.
The plan completed its transition to Principal as record keeper in April, said company spokeswoman Laura Lueder in an email. Principal replaced John Hancock Retirement Services following an RFP process, she said.
The reason for the change was not provided.
As of Dec. 31, the MDU Resources Group Inc. 401(k) Retirement Plan had $1.2 billion in assets, according to an 11-K filing Friday with the SEC. As of that date, the plan had 14 individual investment options, a common stock fund and a target-date fund lineup managed by T. Rowe Price Group.