Florida CFO Patronis directed all participating asset managers to remove ESG investment funds as options for participants in the Deferred Compensation Plan. In effect, Patronis has now barred investments in ESG funds by the $5.1 billion Florida Deferred Compensation Plan.
Florida DC plan dives into hunt for record keepers
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Florida Department of Financial Services is searching for record keepers for the $5 billion Florida Deferred Compensation Plan, Tallahassee.
The department has issued an invitation to negotiate for record keepers to provide investment services and communication and education services for the plan, according to the invitation posted on the department s website.
AIG Retirement Services, Nationwide Financial and Voya Financial are the current record keepers. Whether all are eligible to rebid could not be immediately learned.
In October 2019, the department had elected not to renew contracts with Empower Retirement and T. Rowe Price Group in order to reduce the number of record keepers to three.