Jackson, Tenn., looking for third-party administrator for 457 plan

Jackson, Tenn., is searching for a third-party administrator for its 457 plan, confirmed Susan White, city purchasing manager.

The city issues requests for qualification for an administrator every five years, Ms. White said in a telephone interview. Current administrator ING U.S. Retirement Services is eligible to rebid.

Proposals are due at 10:30 a.m. CDT on March 20. Ms. White said the city would likely make a decision by June.

The RFQ is available on the city's website.

As of June 30, 2011, the city's 457 plan had $12 million in assets, according to the most recently available city financial report.