Wood Buffalo in Alberta looking for record keeper

Wood Buffalo, Fort McMurray, Alberta, issued an RFP for a record keeper for its two defined contribution plans with a combined C$13 million (US$12 million).

Manulife Financial is the plans' current record keeper and can rebid, said Stephanie Pothier, buyer for the municipality's procurement unit.

Municipality officials said in the RFP that they seek candidates' information on experience with target-date funds as well as balanced funds, Canadian equity, U.S. equity, international equity, global equity, fixed income, money market, guaranteed insurance certificates and alternative strategies.

One of the town's two plans is a registered retirement savings plan, in which contributions are tax-deductible; the other is a non-registered plan, a management plan that also serves as a supplement for participants who have contributed the maximum legal amount to the RRSP. Contributions to the NRSP are not tax-deductible.

Municipal employees also participate in the C$26.6 billion Local Authorities Pension Plan, Edmonton, a defined benefit plan managed by the C$75 billion Alberta Investment Management Corp.

The RFP is on the Alberta Purchasing Connection website.

Proposals are due at 3 p.m. MDT Aug. 28. Ms. Pothier said the municipality expects to select a new record keeper sometime in October.