Tuesday, January 9, 2024 - 06:30pm
Categories:
Board Updates
Retirement
The ND Public Employees Retirement System (NDPERS) Board awarded the Contract for Recordkeeper Services to Empower at the January 9, 2024, meeting contingent upon successful contract negotiations.
As the new recordkeeper for both the NDPERS Defined Contribution Plan and the Deferred Compensation “Companion” Plan, Empower will provide recordkeeping, administrative, and trustee - custodial services for the Plans.
The effective date of the new four-year contract is July 1, 2024. NDPERS and Empower will work toward a successful transition by this date. Employers and members should expect future communications regarding this transition during the upcoming months.
The current provider for the Plans is TIAA. Their contract expires June 30, 2024.