Las Vegas Sun

March 28, 2024

State switches company overseeing government employee retirement fund

CARSON CITY — The state Board of Examiners today approved changing the company that administers a $670 million deferred compensation fund for Nevada government employees.

The board agreed the $2.6 million contract should go to Voya Financial to replace MassMutual, which for 27 years has administered the fund for 9,000 workers.

Employees are permitted to invest part of their salary into the Nevada Deferred Compensation Program, a retirement savings plan.

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