Ann Arbor (Mich.) Employees' Retirement System hired Voya Financial as the new record keeper for the city's $103 million 457 plan and $4 million 401(a) plan.
The system's board approved the hiring at its July 20 meeting, recently released meeting minutes show.
The system issued an RFP in January due to the pending expiration of current record keeper MissionSquare Retirement's contract, Executive Director Wendy Orcutt said at the time.
MissionSquare did rebid for the services, but was not named a finalist. The other finalists were Corebridge Financial and Nationwide Financial.
Ms. Orcutt could not be immediately reached for further information.
Investment consultant Innovest Portfolio Solutions assisted with the search.
