New York State Deferred Compensation Plan, Albany, rehired Nationwide Retirement Solutions as record keeper for the $18.4 billion plan.
The plan issued an RFP in January because Nationwide’s current contract will expire March 31. The new contract will start April 1, 2016, and run for seven years.
At its quarterly meeting Friday in New York City, the plan’s governing board also voted to terminate its investment in the Janus Perkins Mid-Cap Value Fund, citing poor performance and changes in management.
The plan has about $70 million in the fund. The money will be transferred in mid-August to the Vanguard Mid-Cap Index Fund, an existing investment option in the plan.
Erin Freeman, a Janus Capital Group spokeswoman, declined to comment on the board’s vote.
