Colorado Public Employees’ Retirement Association, Denver, hired ING to serve as record keeper for the system’s $428.5 million 457 plan, confirmed Katie Kaufmanis, spokeswoman for the $41.1 billion retirement system.
ING already serves as record keeper for the system’s $1.9 billion 401(k) plan and its $53.2 million defined contribution plan. The system wanted to select one record keeper for the three plans.
ING replaced Great-West Retirement Services as record keeper for the 457 plan, Ms. Kaufmanis wrote in an e-mailed response to questions.
Under its new consolidated record keeper, COPERA has rebranded the 401(k) and 457 plans as PERAPlus.
Participants in the plans will have access to investment professionals and the ability to invest in more fund options, previously only afforded to those in the 457 plan, according to a COPERA news release.