South Carolina Deferred Compensation Program, Columbia, rehired Great-West Retirement Services as bundled provider, an intent-to-award letter posted on the state’s procurement website shows.
The program consists of a $2.6 billion 401(k) plan and a $915 million 457 plan. Officials issued an RFP in April; Great-West’s contract was due to expire Dec. 31.
Great-West’s new three-year contract will begin on Jan. 1 with a maximum allowable two-year extension option.
Megan B. Lightle, spokeswoman, did not immediately return a phone call seeking further information.