Association of Christian Schools International, Colorado Springs, Colo., hired TIAA-CREF as sole record keeper for its approximately $15 million 403(b) plan, said Bret Wichert, vice president of finance at ACSI.
The plan previously had two record keepers — TIAA and GuideStone Financial Resources.
An RFP was issued in the summer. GuideStone rebid.
Reasons for the search included a desire for one record keeper, an open architecture investment platform and lower expenses, Mr. Wichert said.