New Mexico Public Employees Retirement Association, Santa Fe, hired Voya Financial as third-party administrator for its $632 million 457 plan, the Smart Save Plan.
Voya replaced Nationwide Financial on Oct. 1, according to a posting on the plan's website.
The retirement system issued an RFP in November 2018 due to the pending expiration of incumbent Nationwide's contract, said Karyn Lujan, PERA Smart Save plan manager, at the time.
Ms. Lujan could not be immediately reached to provide further information.