Alpharetta, Ga., hired Transamerica Retirement Solutions as third-party administrator of its two defined contribution plans and defined benefit pension plan, confirmed Thomas Harris, city director of finance.
The city issued an RFP in February after MassMutual Financial Group acquired Hartford Retirement Services, which had been administrator of the $12 million 457 plan and $7 million 401(a) plan. Mr. Harris did not say whether MassMutual was invited to rebid.
The RFP also sought third-party administration services for its $41 million defined benefit pension plan, which was closed to new hires on July 1, 2009. Administration of the DB plan previously was done in-house.
Other finalists were Lincoln Financial Group and Prudential Financial.
