City of Baltimore 457 Deferred Compensation Plan hired Great-West Retirement Services to provide record-keeping and administrative services for the $230 million plan, confirmed Edward J. Gallagher, city finance director and chairman of the city’s deferred compensation committee.
Great-West replaces ING Group. “We weren’t dissatisfied with ING,” Mr. Gallagher said. “Great-West won the bid.”
Joseph Loparco, spokesman for ING, said in an e-mail: “We’ve appreciated the City of Baltimore’s business and respect their decision. We hope to serve the city and its employees again in the future.”