Glendale, Ariz., rehired Empower Retirement as record keeper of its $120 million 457 plan.
The city issued an RFP in September due to the impending expiration of Empower Retirement's contract. Other finalists were Nationwide Financial and Voya Financial, said Rasch Cousineau, senior consultant at Hyas Group, the plan's investment consultant.
Empower will also provide similar services for the city's $11 million health reimbursement account and a 401(a) plan that currently has $22,000 in assets.
Hyas Group assisted with the search.