Kansas City (Mo.) Deferred Compensation Program hired Nationwide Retirement Solutions as bundled provider of its $90 million 457 plan, said Rick Boersma, executive officer. The plan had two bundled providers, ICMA and ING, which were both finalists, along with Great-West. Plan officials decided Nationwide offered the best combination of services for the plan and its participants, and they wanted a single bundled provider, said Mr. Boersma. He said officials were happy with ING and ICMA but thought it was time to review whether the plan was getting the best value.
After the change, in March, the plan will offer 13 investment options plus T. Rowe Price's lifestyle funds and a brokerage window; ING and IMCA each offer 20 options. Mercer Human Resource Consulting assisted.