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Los Angeles City Deferred Compensation signs Voya as third-party administrator

Los Angeles City Deferred Compensation Plan hired Voya Financial as its third-party administrator, said Steven Montagna, plan manager for the $4.9 billion 457 plan, in an e-mail.

Voya will replace Empower Retirement, whose contract expires Dec. 31. Empower was the other finalist. The selection was made following an RFP launched in February.