Los Angeles Unified School District hired Voya Retirement Services as record keeper of its $100 million 457 plan, said Janice J. Sawyer, chief risk officer.
The school district issued an RFP earlier this year because of a California Education Code requirement that the school district put services up for bid every five years; current record keeper TIAA-CREF did not rebid.
The transition will be completed on or after Jan. 3. The plan has 14 investment options, a BlackRock target-date fund lineup and a self-directed brokerage account. The only investment option change is to a Voya-managed money market fund, mapped from a TIAA-managed money market fund.
