The County of Orange has chosen private retirement system, TIAA-CREF, to administer the defined-contribution (DC) portion of its hybrid retirement plan. TIAA will be the sole provider meeting the needs of both taxpayers and employees.
The new contract will start from July 1, 2011 and it can be extended twice at additional one-year periods, adds Pensions & Investments. All county employees hired after May 7, 2010, are eligible for the hybrid option.
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