Gwinnett County Public Schools, Suwanee, Ga., hired VALIC as the sole record keeper of its $496 million 403(b) plan and $70 million 457 plan, said an award notice on the public schools’ website.
The school system issued an RFP in June due to a school district requirement to put services up for bid after a limited number of contract extensions. VALIC was one of the incumbent record keepers along with Lincoln Financial Group, which did rebid for the services. There were no finalists. TIAA-CREF and Voya Retirement Services were the other bidders.
Kim Murphy, senior buyer, could not be reached for further information by press time.