Wal-mart (WFM) Talking to Different Admins Over $15.6B 401(k) Program (BAC) (WFC)

Wells Fargo (NYSE: WFC) and Bank of America's (NYSE: BAC) Merrill Lynch (BAML) unit are two of a handful of firms vying to run Wal-mart's (NYSE: WMT) massive 401(k) program.

Reuters said today that BAML has run the $15.6 billion plan for the past 15 years.

It wasn't made clear why Wal-mart was looking for a different plan administrator. It is the largest private private-sector plan in the U.S.

Shares of Wal-mart are higher in late trading, while BofA and Wells are flat.

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