Missouri State Employees' Retirement System, Jefferson City, hired ICMA-RC to provide record-keeping services for the $1.5 billion State of Missouri Deferred Compensation Plan, effective November, confirmed MOSERS spokeswoman Christine Rackers.
MOSERS' current contract with ING expires this year, Ms. Rackers said in a telephone interview.
A MOSERS news release states the retirement system chose ICMA-RC because of lower fees and “more robust” calculator options, among other reasons.
Ms. Rackers said ICMA-RC has a focus on the public plan sector and plan management, enhanced client support and flexibility and competitive plan administration pricing.
ICMA-RC spokesman Alex Hannah could not be reached for comment.