Indiana Deferred Compensation Committee, Indianapolis, hired Nationwide Financial as the new third-party administrator of the combined $1.8 billion Indiana Public Employees Deferred Compensation 457/401(a) Plans, said Staci Schneider, chief of staff and deputy state auditor, in an email.
Nationwide will replace Empower Retirement effective April 11, an announcement on the plans' website shows. The plans' investment options lineup will not change, according to the announcement.
An RFP was issued in November 2020. Ms. Schneider said Empower rebid for the services and was the other finalist.