Wesbanco Inc., Wheeling, W.Va., hired Empower Retirement as record keeper of its 401(k) plan, according to an 8-K filing with the SEC on Wednesday.
The company announced in the filing that the transition to Empower will be effective Aug. 1, and a blackout period for participants will begin July 18 and end on or about Aug. 16.
According to Wesbanco's most recent 11-K filing, the plan's record keeper as of Dec. 31, 2021 was Newport Group.
The reason for the change was not provided in the new 8-K filing. The filing also announced that the name of the plan will change to the Wesbanco Inc. 401(k) Plan with the transition to Empower, from the Wesbanco Inc. Employee Stock Ownership and 401(k) Plan.
As of Dec. 31, 2021, the plan had $225 million in assets, according to the 11-K filing.
Spokeswoman Alisha Hipwell could not be immediately reached for further information.
