Thames Water Utilities Ltd., Reading, England, selected Aon as defined contribution multiemployer plan provider to manage the assets of its new DC plan, according to a notice on European procurement website Tenders Electronic Daily.
Aon will provide insight and recommendations to ensure the new plan design follows market trends, industry benchmarks and standards.
Aon will also provide long-term financial well-being program for the plan's 4,500 participants along with an online portal to ensure efficient employer administration and contribution system.
The size of the plan and other details could not be learned.
The contract will initially be for three years, with an option to extend it for an additional five years.