Metropolitan Atlanta Rapid Transit Authority is searching for a record keeper for its $107 million 457 plan and $31 million 401(a) plan, said an RFP posted on the authority's purchasing website.
The authority is seeking a single record keeper "that has the capability of dealing directly" with both plans and who will "offer strong and competitive fund choices, accurate and timely record-keeping services, and administer the plans within predescribed service methods," according to the RFP.
The 457 plan's current record keepers are MassMutual Financial and Nationwide Financial. MassMutual is the sole record keeper for the 401(a) plan. Whether the firms are eligible to rebid could not be immediately learned.
The RFP is available on the transit authority's purchasing website. Registration is required. Proposals are due at 2 p.m. EDT on April 11. A timeline for a decision was not provided.
Cynthia Andrews, retirement benefits analyst, could not be immediately reached to provide further information.