Texas Employees Retirement System, Austin, hired CitiStreet as third-party administrator and record keeper for its $650 million 401(k) and 457 Texa$aver program, replacing Security First Group Benefits Administration, a division of MetLife, said Leslie Kjellstrand, spokeswoman for the system.
"Security First Group has been rebranded as MetLife Investors and its operations are being transitioned,” said Michelle Marin, director of public relations at MetLife. She would not comment on whether MetLife Investors would no longer provide these services to other clients.
The program provides 13 investment options. Trustee duties are handled in house.
