Kansas City (Mo.) Deferred Compensation Program issued an RFP for a sole bundled provider for the city's $90 million 457 plan, said Rick Boersma, executive officer. Incumbents ING and ICMA both are eligible to rebid. Plan officials are interested in using a single firm to reduce fees for participants, he said. The RFP is available on the city's website, www.kcmo.org; responses are due June 25, with a selection expected at the end of August. Newly hired Mercer Human Resource Consulting is assisting.
The 457 plan offers a total of 50 investment options, and participants can use funds from one or both providers, Mr. Boersma said.