Santa Clara Valley Transportation Authority, San Jose, Calif., hired Empower Retirement as record keeper for its $297 million 457 plan and $11 million 401(a) plan.
The authority's deferred compensation committee approved the hiring at its Feb. 28 meeting, recently released meeting minutes show.
The authority issued an RFP in September due to the expiration of the contract of incumbent record keeper MissionSquare Retirement, spokeswoman Stacey Hendler Ross said at the time.
MissionSquare was one of the finalists, along with Nationwide Financial and Voya Financial.
Investment consultant Hyas Group assisted.
Ms. Ross could not be immediately reached for further information.
