Searches and Hires

Philadelphia seeks third-party administrator for DC plans

Philadelphia Board of Pensions and Retirement is searching for a third-party administrator for the city's $1.2 billion 457 plan, said Christopher R. DiFusco, chief investment officer, in an email.

Current third-party administrator Nationwide Financial is invited to rebid, Mr. DiFusco said. He would not provide further comment.

The selected administrator would also provide services for the defined contribution portion of the city's hybrid plan and a 401(a) plan. Asset size information on those plans could not be immediately learned.

The RFP is available on the city's purchasing website. Registration is required. Proposals are due at 5 p.m. EDT on Sept. 7. A selection is expected sometime in October.