Oregon's Metro seeks third-party administrator for DC plans

Metro, Portland, Ore., is searching for a third-party administrator for its 401(k) and 457(b) plans, confirmed Sharon Stiffler, procurement analyst.

Incumbent Vanguard is invited to rebid.

The selected firm will become sole provider of the plans and provide administration, record-keeping, education, participant investment advice and investment management services for the $47.9 million 401(k) Employee Salary Savings Plan and $4.9 million 457 Employees Salary Savings Plan, according to the RFP.

Consultant Hyas Group is assisting.

The RFP is available on Metro's website. Proposals are due Nov. 2. A hiring date has not been decided.