Florida State Board of Administration, Tallahassee, has invited the 16 service providers that responded to its RFI for bundled providers for its new defined contribution plan to "clarify their original responses.
Those responses will be rescored and the SBAs board of trustees comprising the state governor, treasurer and comptroller will select another list of finalists, said Elizabeth Mozley, SBA spokeswoman.
Board staff had selected five finalists Aug. 6, but VALIC and Sun America which were not among the firms chosen subsequently served notice that they planned to challenge the selection process with an administrative law judge. The SBAs trustees told board staff on Tuesday they wanted more "choice, but did not clarify what they meant by choice. As a result, the SBA cancelled its on-site visits of finalists, already in progress.
A deadline hasnt been set for the clarifications, Ms. Mozley said.