NU Online News Service, Oct. 11, 11:35 a.m. – Tower Automotive Inc., Grand Rapids, Mich., has picked NYLIM Retirement Plan Services, Norwood, Mass., a unit of New York Life Insurance Company, to manage its $100 million defined-benefit pension plan.
The pension plan covers 4,000 employees, former employees and retirees.
Tower Automotive, a maker of automotive components and systems for automotive original equipment manufacturers, moved a $300 million 401(k) plan to NYLIM in 2001.