Milwaukee City Deferred Compensation Plan hired Voya Institutional Plan Services as record keeper, said Margaret C. Daun, executive director of the $773 million 457(b) plan.
Voya will replace Nationwide Retirement Solutions. Ms. Daun declined to say why the plan is making the change.
The plan is scheduled to transition to Voya in the fourth quarter, Ms. Daun said.
Callan Associates, the plan’s investment consultant, assisted in the changes.