Alabama Deferred Compensation Plan, Montgomery, rehired Empower Retirement as record keeper and stable value manager for the $610 million 457(b) plan, said Peter Gulia, founder of Fiduciary Guidance Counsel, in an email.
The RFP was issued in March because "the plan's fiduciaries consider it prudent to search … for new services," said Mr. Gulia.
Fiduciary Guidance Counsel assisted with the search.
ICMA-RC, Prudential Financial and Voya Financial were the other finalists who were invited to make presentations.
The plan is still seeking participant investment advisory services, which was also part of the RFP issued in March.