Placer County, Auburn, Calif., hired Lincoln Financial Group as record keeper of its 401(k) and 457 plans, said Brett M. Wood, county purchasing manager, in an email.
The county issued an RFP in June 2017 because it had been more than 10 years since the services were put up for bid. The current record keepers for the plans, which have combined assets of $161 million, are the $351.5 billion California Public Employees' Retirement System, Sacramento, and MassMutual Financial. Both incumbents rebid for the services. CalPERS was a finalist along with ICMA-RC.
The county board of supervisors approved the hiring at its March 20 meeting, Mr. Wood said.
