Tulsa (Okla.) Deferred Compensation Plan hired Nationwide Financial as record keeper as part of an overhaul of its investment options lineup.
Nationwide will replace Fidelity effective Dec. 11, according to a transition guide posted on the 457 plan's website. Nationwide was hired as the result of an RFP; whether Fidelity was included in the process could not be immediately learned.
Also effective Dec. 11, the plan will change its investment option lineup.
The plan is adding an active domestic small-cap equity fund managed by Fred Alger Management; an active international equity fund and active emerging markets equity fund managed by Capital Group; an active domestic large-cap value equity fund managed by Columbia Threadneedle Investments; a real estate fund managed by Nuveen; and an active domestic large-cap growth equity fund managed by T. Rowe Price Group.
The plan is removing an active international equity fund managed by Allianz Global Investors; real estate funds managed by American Century Investments and Fidelity Investments; an active domestic large-cap growth equity fund and domestic fixed-income fund managed by Fidelity; an active emerging markets equity fund managed by Morgan Stanley Investment Management; an active intermediate-term fixed-income fund managed by Pacific Investment Management Co.; and an active domestic midcap value equity fund managed by Wells Fargo Asset Management. Participants in old funds will be mapped to similar existing and new funds.
The plan also is adding a target-date fund lineup managed by Nuveen, replacing a similar lineup managed by Fidelity.
The asset size of the plan could not be immediately learned. Erica Felix-Warwick, the city's personnel director and chair of the city's deferred compensation committee, could not be immediately reached to provide further information.