Clewiston, Fla., hired Securian Financial Group as bundled provider of its $7 million defined benefit pension plan and new 401(a) plan, confirmed Marilyn McCorvey, city clerk.
The city issued an RFP in September. The DB plan was frozen effective Sept. 30, with participants moving to the new defined contribution plan Oct. 1.
The other finalist was Florida League of Cities.
The previous provider for the pension plan was Principal Financial Group, which did bid for the contract.