Aon Hewitt will help manage pension plans for California state employees, the company announced Thursday.
The company will provide defined contribution administration, record keeping and participant advisory services to approximately 300,000 participants in the benefits plans, which total $8 billion.
California’s Department of Personnel Administration is trying to help state employees prepare for their financial futures, said Michelle Berklacich, administrator for the state’s Savings Plus Program.
Most state employees will have access to the company’s financial planning services, including retirement plan administration, customer service and employee communication services, the company said.
Independent investment advisor Financial Engines will serve as a sub-advisor to Aon Hewitt Financial Advisors, LLC, an Aon Hewitt subsidiary.
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Aon Hewitt To Help California Run Employee Pension Plans
The company will provide defined contribution administration, record keeping and participant advisory services to approximately 300,000 participants in the benefits plans, which total $8 billion.
California’s Department of Personnel Administration is trying to help state employees prepare for their financial futures, said Michelle Berklacich, administrator for the state’s Savings Plus Program.
Most state employees will have access to the company’s financial planning services, including retirement plan administration, customer service and employee communication services, the company said.
Independent investment advisor Financial Engines will serve as a sub-advisor to Aon Hewitt Financial Advisors, LLC, an Aon Hewitt subsidiary.
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