Fleetwood Selects CitiStreet As 401(k) Administrator; Major Producer of RV's and Manufactured Housing has 10,000 Plan Participa
May 10 2006 - 11:14AM
Business Wire
Fleetwood Enterprises, Inc., a top U.S. producer of recreational
vehicles and a leader in manufactured housing, has selected
CitiStreet to be the administrator of the company 401(k) plan, it
was announced today. The plan has about $300 million in assets and
10,000 participants. CitiStreet will provide plan administration,
record keeping, customer service, communications and education for
the plan. Advice also will be offered through CitiStreet Advisors,
LLC. "We selected CitiStreet because the breadth and quality of the
administrative services they offer appear to be a very good match
for a plan of our size and complexity, and for their reputation for
excellence in record keeping," said Betsy Gealogo, Fleetwood's
retirement plan manager. In its sales presentation CitiStreet
highlighted, among other things, its fee transparency and its
flexible technology, which allows the plan recordkeeping to be
tailored to the needs of Fleetwood. CitiStreet also emphasized its
ability to provide custom Spanish communications, which was of
significant interest to Fleetwood. "We look forward to working with
Fleetwood to meet its specific needs, and to helping its
participants meet their retirement savings goals," said Sandy
McCarthy, CitiStreet president of retirement services. Fleetwood
Enterprises, Inc., a Fortune 1000 company headquartered in
Riverside, Calif., and founded in 1950, is the number two maker of
recreational vehicles in the United States and also the number two
producer of manufactured homes. Both its recreational vehicles,
from large luxury motor homes to folding camping trailers, and its
single and multi-section housing have been valued by customers over
many years for their excellence in design and innovation. About
CitiStreet CitiStreet, one of the largest global benefits delivery
firms in the United States, is headquartered in Quincy, Mass.
CitiStreet has 3,000 employees at offices in Somerset, N.J.,
Jacksonville, Fla., Lewiston, Maine, Boston and field offices
around the nation. It also has a division, CitiStreet Australia,
with offices in Sydney, Brisbane and Melbourne. CitiStreet serves
more than 10 million participants and administers approximately
$200 billion in assets in the United States for defined
contribution, defined benefit and health and welfare plans of
corporate, government, health care, Taft-Hartley and not-for-profit
organizations. It also serves more than 1 million participants and
administers about $15 billion in assets outside the United States.
CitiStreet is a 50/50 joint venture between State Street Corp.
(NYSE:STT) and Citigroup (NYSE:C). For more CitiStreet information,
visit the Web site at www.citistreetonline.com.
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