Searches and Hires

University of Texas rehires 5 providers for DC plans

University of Texas System, Austin, will rehire its five incumbent bundled service providers for its defined contribution and deferred compensation plans.

The firms are Fidelity Investments, Lincoln Financial Group, TIAA-CREF, VALIC and Voya Financial. Pending successful contract negotiations, each will receive three-year contracts with a three-year renewal option beginning Sept. 1, said Karen Adler, a UT spokeswoman, in an email.

An RFP was issued in February.

Services provided for the plans will include investment management options; self-directed brokerage and variable annuities; participant education and support; and record keeping.

The UT system offers a 415(m), 457(b) and two 403(b) plans in the UT Retirement Program and two 457(f) non-qualified deferred compensation plans.

Ms. Adler said the size of the retirement plans was not available.