City of Baltimore hired CitiStreet as bundled provider of its $200 million 457 plan and will make several changes to its menu of 16 investment options, said Ed Gallagher, deputy director of finance. It will add three Smith Barney asset allocation funds, a Smith Barney large-cap growth fund and a MetWest bond fund. The plan will also offer a stable value fund managed by State Street Global; Mr. Gallagher did not identify the provider of the plans previous stable value option.
CitiStreet replaced Great-West Benefit Services, which had been the plans record keeper and money manager since 1994, he said.
Baltimore is CitiStreets first municipal 457 plan client, said Randy Taylor, who heads CitiStreets public defined contribution plan business.