Colorado school district searching for record keeper
By Kevin Olsen | February 11, 2013 3:00 pm
St. Vrain Valley School District, Longmont, Colo., is searching for at least one firm to provide record keeping and administrative services for its 403(b) and 457 defined contribution plans, confirmed Douglas Inglee, senior analyst at Innovest Portfolio Solutions, investment consultant to the school district.
The plans are currently administered by five vendors — VALIC, AXA Equitable, Security Benefit, Thrivent Financial for Lutherans and Waddell & Reed. It could not be determined by press time whether they are invited to rebid or how many providers will be hired. The RFP asks respondents for a fee model based on if one, two or three providers are hired for the two plans with a combined $34 million in assets.
The RFP can be obtained through the school district's purchasing website. Proposals are due Feb. 28. Finalists presentations will take place the week of April 15, with a hiring decision expected by the end of April. The conversion to new providers is scheduled to take effect Oct. 1.
Mr. Inglee was not available for additional information by press time.