Jacksonville, Fla., rehired Empower Retirement as bundled provider for its $158 million 457 plan and $24 million 401(a) plan, said Tia Ford, city spokeswoman, in an email.
The city issued an RFP in March as part of its practice to review vendors periodically. Other finalists were MassMutual Financial and Nationwide Financial.
The 401(a) plan is optional to city workers hired before Oct. 1. All employees hired on or after Oct. 1 are entered into the plan automatically following the closure of the $2 billion Jacksonville City Retirement System and $1.8 billion Jacksonville Police & Fire Pension Fund.
