Ivy Tech Community College, Indianapolis, hired Transamerica Retirement Solutions as record keeper and administrator of its 403(b), 457(b) and 401(a) plans, with a combined $420 million in assets, said Jeffery Scott Fanter, spokesman for the college.
Transamerica replaced TIAA-CREF and OneAmerica Financial Partners. It could not be learned whether either firm rebid.
An RFP was issued May 15, Mr. Fanter said.
Ivy Tech's plans now offer 15 investment options and a suite of target-date funds, down from 39 options and the target-date series, Mr. Fanter said. Further details were not available.
ProCourse Fiduciary Advisors, the plans' consultant, assisted.