College of DuPage, Glen Ellyn, Ill., is searching for a bundled provider for its 403(b) and 457(b) plans, confirmed Daniella Cammarata, retirement plan associate at Mercer.
Mercer was hired to conduct the search.
The college is looking to consolidate the number of service providers. There are nine for the 403(b) plan and four for the 457(b) plan, according to the RFP. Officials likely will hire one provider for both plans, but could hire one for each plan, Ms. Cammarata said in a telephone interview.
Ms. Cammarata did not know the size of the plans. The RFP shows that about $4.1 million was contributed to the plans from January 2011 through April 20, 2012.
Susan Benton, manager, benefits at the college, did not return a telephone call by press time for additional information.
The RFP can be obtained by contacting Ms. Cammarata at email@example.com.
Proposals are due at 3 p.m. EDT July 9. Finalists will be selected the week of July 20 with board approval of a new provider anticipated on Aug. 21.