Washington, D.C.-based nonprofit financial services corporation ICMA-RC has been chosen by the city to be its sole recordkeeper for its 457 deferred compensation and 401(a) defined contribution pension plans.
According to the agreement, ICMA-RC will administer more than $1.3 billion in assets in the 457 and 401(a) plans for the District of Columbia.
It will provide services, client support and financial education to approximately 40,000 employees.
The firm currently provides retirement plans and related services for more than 1 million public sector participant accounts and more than 9,000 retirement plans.
It says its retirement programs, administrative services and educational tools have been developed specifically for the public sector.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
