Murfreesboro, Tenn., rehired MissionSquare Retirement as record keeper for its 401(a) and 457 plans, said Randolph Wilkerson, the city's director of employee services.
The city issued an RFP in July for a firm to provide plan administration, documentation, investment and record-keeping services for the plans.
Voya Financial was the other finalist, Mr. Wilkerson said.
The 401(a) plan was created following the closing of the city's defined benefit plan on June 30, 2010. New hires since July 1 of that year have automatically been enrolled in the 401(a) plan with the option of joining the 457 plan. The plans currently have $21 million in combined assets, Mr. Wilkerson said.
