Hanover County (Va.) hired Empower Retirement as record keeper of its defined contribution plans, Steven Rusch, the county's purchasing division director, said in an email.
The county issued an RFP in December because the contract of current record keeper Lincoln Financial Group is expiring at the end of August. Lincoln was a finalist along with Voya Financial.
The county has three defined contribution plans: a $42 million 457 plan, a $35 million 403(b) plan and a 401(a) plan with less than $1 million in assets.
