Jacksonville, Fla., is searching for a bundled provider for its $158 million 457 plan and $24 million 401(a) plan, said Alex Baker, the city's professional services specialist, in an email.
The city issued an RFP as part of normal business practice to review vendors periodically, Mr. Baker said. Current provider Empower Retirement is invited to rebid.
The RFP also notes that the 401(a) plan is currently optional to city employees; however, pending city council approval, employees hired on or after Oct. 1 will automatically be entered into the plan following the proposed closure of the $2 billion Jacksonville City Retirement System and $1.8 billion Jacksonville Police & Fire Pension Fund.
The RFP is available on the city's website. Proposals are due at 2 p.m. EDT on April 26. Finalist presentations, if needed, are tentatively scheduled for June 1, with a decision sometime in July.