Shelby Township, Mich., is searching for a record keeper for its $30 million 457 plan and $28 million 401(a) plan, said an RFP posted on the township's website.
The township issued the RFP seeking a single firm to provide administrative and record-keeping services for the plan. The 401(a) plan's record keeper is John Hancock Financial Services and the 457 plan's record keepers are John Hancock and Nationwide Financial. Whether the firms are eligible to rebid could not be immediately learned.
The RFP is available on the township's website. Proposals are due at 3 p.m. EST on March 2. A timeline for a decision has yet to be determined.
Investment consultant Retirement Plan Advisors is assisting.
Lisa Suida, human resources director, was not available to provide further information by press time.