Cook County Deferred Compensation Plan, Chicago, selected Public Employee Benefit Service Corp. as the plan's new third party administrator, said John Chambers, county comptroller. PEPSCO will assume administration of the $230 million 457 plan Dec. 31 from The Copeland Cos., which has held the contract since 1980.
Mr. Chambers said plan officials are still deciding what investment options to offer 457 plan participants. Some PEBSCO managed options will be included, but outside mutual funds and existing options may be carried over to the new program.
PEBSCO will assist in making the transition to the new record keeping system as transparent to the user as possible through employee communication and education, one of the county's main goals, Mr. Chambers said.