Hawaii Deferred Compensation Fund, Honolulu, hired Prudential Financial as third-party administrator for its $1.5 billion 457 plan, according to a news release on the website of the department of human resources development.
Prudential replaces ING Retirement Services; an RFP was issued last June.
There is a blackout period from July 19 to 29. The plan will continue to have the same 16 investment options, as well as series of lifecycle funds.
Barbara Krieg, Hawaii Department of Human Resources Development director, was not available by press time.