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.
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