Lane County, Ore., hired TIAA-CREF as third-party administrator for its 457(b) plan and new 401(a) plan, said Mary Miller, benefits and wellness manager for the county, in an e-mail.
TIAA-CREF will provide administration, investment management, record keeping, education, counseling and participant investment advice.
“TIAA-CREF offered the most competitive rates, and also transparent fees and robust participant investment advice,” Ms. Miller said about the reason for TIAA-CREF’s selection.
An RFP was issued in July 2014. Incumbent Great-West Retirement Services, now Empower Retirement, rebid.
The 457 plan has about $90 million in assets. The 401(a) plan will be offered starting June 1.