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Wal-Mart (WMT) has been talking to both Wells Fargo (WFC) about Bank of America (BAC) about managing its $15.6B 401k program, run for the last 15 years by BofA, Reuters reports. BrightScope estimates Wal-Mart has 1.2M+ people participating in its retirement plan, and that the average account balance stands at $15K. Reuters notes Wal-Mart is seen as a marquee client in the retirement plan space in spite of a small average account size, and that plan administration deals "rarely come up for grabs."
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