SkyWest Inc., St. George, Utah, hired Charles Schwab as record keeper for its 401(k) plan, the company disclosed in an 8-K filing Tuesday with the SEC.
The plan's current record keeper is Wells Fargo, according to the filing. In 2019, Principal Financial Group purchased Wells Fargo's record-keeping business; whether the firm took over SkyWest's plan for Wells Fargo could not be immediately learned.
A blackout period for participants was originally scheduled to begin at 4 p.m. EDT on March 17, but due to ongoing market volatility as a result of the coronavirus pandemic the transition to Schwab will be delayed for at least 30 days, the filing said.
As of Dec. 31, 2018, the SkyWest Inc. Employees' Retirement Plan had $684 million in assets, according to the company's most recent 11-K filing with the SEC.
A SkyWest spokeswoman could not immediately provide further information.