South Jersey Radiology Associates plans to introduce a set of lifecycle funds to its $30 million 401(k) plan in the next six months. Joan Carroll, director of human resources, said the Voorhees, N.J., radiology clinic has spoken to six or seven firms, but would not name them. Finalists have not been chosen. AIG VALIC is the current recordkeeper, but Carroll didn’t say whether it was among the firms the company is looking at. South Jersey Radiology Associates did not issue a formal request for proposals. The company is not using a consultant.
Carroll said the lifecycle funds will give participants more options and a better opportunity to make good investments because they automatically allocate assets, saving the participants the trouble of doing it themselves.