Larimer County, Fort Collins, Colo., hired TIAA-CREF as bundled provider for its 401(a) and 457(b) plans, confirmed Kathryn Rowe, purchasing director.
TIAA-CREF replaces Principal Financial Group for the $137 million 401(a) plan, and MassMutual and Nationwide Retirement Solutions for the $22 million 457 plan. All three providers rebid, Ms. Rowe said.
Great-West Retirement Services, ICMA-RC and Principal were finalists. TIAA-CREF was chosen in part because of lower fees and the largest menu of fund offerings, Ms. Rowe said.
An RFP was issued in January. Innovest Portfolio Solutions assisted.