Burbank goes with ICMA-RC as sole provider
By Arleen Jacobius | June 1, 2010 3:56 pm
City of Burbank (Calif.) hired ICMA-RC as sole bundled provider for its 457 plan, consolidating the nearly $100 million in assets that had been managed by three entities, said Gregory Dyson, senior vice president and chief operations and marketing officer for ICMA-RC.
The previous providers were ICMA-RC, Great-West Life and the $204 billion California Public Employees’ Retirement System, Sacramento.
The city consolidated the plans to cut costs for plan participants and to enhance investor education and plan administration, according to a joint news release.
Carrie Matson, the city’s deputy financial services director, could not be reached for further details by press time.