Sound Transit, Seattle, hired Empower Retirement as record keeper and custodian for its $215 million 401(a) plan and $44 million 457 plan, said a notice posted on the transit agency's website.
The agency, also known as the Central Puget Sound Regional Transit Authority, issued an RFP in January for a record keeper and custodian due to the impending August expirations of the incumbent firms' contracts.
Empower Retirement is the incumbent record keeper and Wells Fargo is the incumbent custodian. The notice said three firms bid for the services but did not note whether Wells Fargo was one of the bidders.
Sound Transit officials could not be immediately reached to provide further information.