Torrance, Calif., rehired Empower Retirement as record keeper of its $200 million 457 plan, a City Council video showed.
The council, at its meeting on Tuesday, unanimously approved city Treasurer Dana Cortez's recommendation to rehire the incumbent record keeper. The city issued an RFP in September because Empower's contract was due to expire on May 31.
The council approved a new five-year contract expiring on May 31, 2023. A total of eight firms submitted proposals.
Ms. Cortez could not be immediately reached to provide further information.
