Arizona State Retirement System, Phoenix, later today will begin searching for a bundled provider for its new 401(a) plan, which will have about 250,000 eligible participants. The plan, which is expected to launch in July, is intended to supplement the system’s existing $21 billion defined benefit plan. The provider will offer record keeping, administration and participant education, said Paul Matson, chief investment officer.
RFPs will be posted at the system’s website, www.asrs.az.us, at the close of the business day today; it also will appear in the Jan. 21 issue of Pensions & Investments. Mr. Matson said he does not expect to use a consultant in the search, which is scheduled to end in the spring.
