Florida State Board of Administration trustees today approved negotiating with five bundled investment providers for its new defined contribution plan, set to launch in March. The firms — Prudential, Nationwide, ING Aetna, Fidelity Investments and VALIC — were recommended by the board’s investment committees to provide investments and some other services to participants in the new 401(a) plan.
The trustees, including Gov. Jeb Bush, also approved negotiating with SAFECO for an open brokerage window for the plan.