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Defined Contribution

N.Y. Deferred Compensation fund to take control of Tonawanda 457 plan

City of Tonawanda, N.Y., moved its $10 million 457 plan into the New York State Deferred Compensation Plan, Albany, said Joseph Hogencamp, city treasurer, in an email.

The move was made following the Tonawanda fund's search for a record keeper, Mr. Hogencamp said. The city issued an RFP in February because it had been some time since it had put the services up for bid.

Empower Retirement and incumbent record keeper MassMutual Financial were also finalists.

Nationwide Financial is the record keeper for the $23.6 billion state deferred compensation plan.