Lexington-Fayette Urban County Airport Board, Lexington, Ky., hired Voya Financial as record keeper for its 401(a) and 457 plans, said Zach J. Karas, principal at Retirement Plan Advisors, the board's investment consultant.
The board issued an RFP in September to consolidate the plans to a single record keeper.
Current record keepers Benefit Administrators and John Hancock Retirement Plan Services did rebid for the services, Mr. Karas said.
The 401(a) plan has $17 million in assets, while the 457 plan has $450,000 in assets.