The city-parish retirement system has hired BNY Mellon to administer the pension plan’s roughly $1 billion in assets, according to the financial services firm.

The Employees’ Retirement System of the City of Baton Rouge covers 3,500 employees and 3,400 retired workers.

BNY Mellon also will provide accounting and cash management services for the pension fund. The pension fund was created in 1953 and provides lifetime pension benefits to city-parish workers.