Florida State Board of Administration’s board of trustees selected finalists in its search for bundled providers for the state’s defined contribution plan, set to be launched in March 2002. Prudential, Fidelity and INVESCO are finalists for investment options with no additional services; Prudential, SunAmerica, Fidelity, ING Aetna and Nationwide are finalists for provider offering moderate levels of service; and Fidelity, VALIC and TIAA-CREF are finalists for provider offering significant service.
Eliminated from the running were T. Rowe Price, Vanguard, Oppenheimer and A.G. Edwards in the no-service category; SAFECO, Horace Mann and First Union, moderate service; and Hartford and SAFECO, significant service.
The Tallahassee, Fla.-based board is expected to make a final decision at its Nov. 14 meeting on how many and which type of bundled providers it will hire.
