NYLIM Retirement Plan Services of Parsippany, N.J., announced a new service for 401(k) plan providers last week that will help them select and monitor mutual funds in their retirement plans. Two key aspects of the new offering, Portfolio Complete, are that the firm's partner in the project, Morningstar of Chicago, will assume fiduciary responsibility and that it is designed to aid plan sponsors rather than individual investors.

CitiStreet of Quincy, Mass., a joint venture between Citigroup of New York and State Street Corp. of Boston, began offering a similar service in June [see MFMN 6/17/02].

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