Newport News Public Schools, Newport News, Va., hired Empower Retirement as record keeper for its $29 million 403(b) and $1 million 457 plans.
The school district issued an RFP in August. Whether Lincoln Financial Group, the current record keeper, rebid for the services could not be immediately learned.
Empower was selected because it was determined "to be the most fully qualified and suitable provider," according to an Oct. 18 notice of intent to award posted on the commonwealth of Virginia's procurement website.
The plans currently share a lineup of 11 investment options. Whether the lineup will change has yet to be determined.
Lisa Cumming, director of procurement, could not be immediately reached to provide further information.
