Ohio Public Employees Deferred Compensation Program, Columbus, hired Bank of New York Mellon as custodian, spokesman Josh King said.
The $15.4 billion 457 plan issued an RFP in March after determining it wanted a firm to provide the plan with a master arrangement in which all trust fund assets are held in custody, Mr. King said at the time.
State Street Global Advisors currently provides custody services for the plan's white-label separate account options, while mutual fund and commingled fund options are held "in a fund-direct manner with the investment manager and/or agent," according to the RFP.
The 457 plan handles record keeping internally.
Mr. King did not provide finalist information.
Consultant RVK assisted with the search.