Stanislaus County, Modesto, Calif., hired Nationwide Financial as record keeper for its $201 million 457 plan and $6 million 401(a) plan, said Vincent Galindo, senior consultant at investment consultant Hyas Group — the county's investment consultant — in an email.
The county issued an RFP in January because it had been some time since the services had been put up for bid. The 457 plan's incumbent record keeper, MassMutual Financial, was a finalist along with AIG Retirement Services, ICMA-RC and Voya Financial.
Public Agency Retirement Services was the 401(a) plan's incumbent record keeper as well as the incumbent for another 457 plan that has less than $1 million in assets that was also part of the search. PARS rebid for services for the latter plan only, Mr. Galindo said. Nationwide also was hired to be record keeper for that plan.
Hyas assisted with the search.