Houston-based Hines, an international real estate development, management and investment company, will add the Roth 401(k) feature to its approximately $120 million, 1,500-life 401(k) plan. An official at the company said it will implement the feature January 1. He said the 401(k) trustees are still waiting on legislation and communication materials from its recordkeeper, T. Rowe Price. He also said the Roth will give employees more flexibility with the after-tax savings benefit. The Roth feature will add more complexity to the plan, but Hines will have all the kinks worked out by the fall, he added.
Hines has 14 funds in its lineup with T. Rowe Price managing the majority of them and a set of asset allocation funds. Other fund managers include: Wells Fargo, Morgan Stanley, Lord Abbett and Artisan. Hewitt Associates acts as consultant.