Tucson (Ariz.) Deferred Compensation Board hired Empower Retirement as record keeper of the city's 457 and 401(a) plans, said Art Cuaron, the city's pension and benefits administrator, in an email.
The board issued its first open RFP for record-keeping services in August, Mr. Cuaron said.
Current record keeper ICMA-RC and Voya Financial were the other finalists.
As of June 30, the 457 and 401(a) plans had a combined $286 million in assets and shared a lineup of 29 investment options, the most recent data available.
Investment consultant Innovest Portfolio Solutions assisted.