FSU DC plan searching for additional service provider

Florida State University System Optional Retirement Program, Tallahassee, is searching for an additional service provider, according to an invitation to negotiate posted on the state of Florida’s website.

The $3.2 billion 403(b) plan is searching for a sixth provider because of a Florida law that provides for the expansion of the number of providers, according to the RFP.

Current providers are ING, Jefferson National, MetLife, TIAA-CREF and VALIC.

ITN proposals are due at 2 p.m. EST on Jan. 23. A decision is tentatively scheduled for April 10, with a contract start date of July 10.

Ben Wolf, spokesman for the Florida Department of Management Services, did not have further information by press time.