Oakland (Calif.) Deferred Compensation Plan hired ICMA-RC as record keeper, confirmed Anil Comelo, city director of human resource management.
The $335 million 457 plan issued an RFP early last year because the contract of incumbent MassMutual Financial is expiring.
MassMutual was among the finalists, along with Great-West Retirement Services, ING U.S. Retirement Solutions, Lincoln Financial, Prudential Financial and TIAA-CREF.
MassMutual’s contract expires March 31. Mr. Comelo said in a telephone interview that he hopes a transition will be complete by May 1.
