Cook County staff recommend dropping Nationwide, adding Edward Jones/John Hancock for deferred compensation while retaining MSRS
County benefits staff told the Committee of the Whole on July 17 they will ask the board next week to remove Nationwide as a deferred compensation provider, add Edward Jones with John Hancock as record keeper, and keep the Minnesota State Retirement System (MSRS). Staff cited lower administrative fees and repeated customer-service complaints.
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Cook County staff presented proposed changes to the county27s deferred compensation offering at the Committee of the Whole work session on Tuesday, July 17, saying they will request formal board action next week to remove Nationwide as a plan provider and add Edward Jones (with John Hancock as the record keeper) while retaining the Minnesota State Retirement System (MSRS).
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