Smithfield Foods finds 401 (k) consolidation edge

Anderson, Tom
September 2004
Employee Benefit News;9/15/2004, Vol. 18 Issue 12, p28
This article reports that benefits manager Mary Fisher has convinced Smithfield Foods Inc. to consolidate its six 401(k) providers to one vendor. Fisher coordinates the administration of all defined contribution plans for Smithfield, representing more than 35,000 active and retired employees. With annualized sales of $10 billion, Smithfield is the leading processor and marketer of fresh pork and processed meats in the U.S., as well as the largest producer of hogs. Acquiring companies left Smithfield with a patchwork of defined contribution plans specific to each individual company under the Smithfield family of companies.


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