Wayne County Employees' Retirement System, Detroit, hired Prudential Financial as record keeper for its $430 million 401(a) plan and $220 million 457 plan, according to a posting on the retirement system's website.
Prudential replaces AXA, MassMutual Financial, Midland National and Voya Financial as the record keeper of the 457 plan, and was the incumbent for the 401(a) plan. The changes will be effective Aug. 5.
Whether the incumbent firms were part of an RFP process could not be immediately learned.
Robert Grden, executive director, did not return a phone call seeking further information.