University of Texas System, Austin, will rehire its five incumbent bundled service providers for its defined contribution and deferred compensation plans.
The firms are Fidelity Investments, Lincoln Financial Group, TIAA-CREF, VALIC and Voya Financial. Pending successful contract negotiations, each will receive three-year contracts with a three-year renewal option beginning Sept. 1, said Karen Adler, a UT spokeswoman, in an email.
An RFP was issued in February.
Services provided for the plans will include investment management options; self-directed brokerage and variable annuities; participant education and support; and record keeping.
The UT system offers a 415(m), 457(b) and two 403(b) plans in the UT Retirement Program and two 457(f) non-qualified deferred compensation plans.
Ms. Adler said the size of the retirement plans was not available.
