Missouri State Public Employees' Deferred Compensation Commission, Jefferson City, issued RFPs for a third-party administrator, a fixed-income annuity fund manager and a stable-value investment fund manager for its 457 and two 401(a) plans, which have combined assets of $1.1 billion, said Allen Scott, employee benefits manager. The contract of PEBSCO, current third-party administrator and fixed-income annuity fund manager, expires at the end of the year. PEBSCO is invited to rebid, he said.
Mr. Scott said the plans, which mirror each other, currently offer two fixed-income investment options, the Prudential Guaranteed Interest and Nationwide Fixed Annuity funds. The commission will replace one of those funds with a stable-value fund to improve the structure of the plans, he said.
The RFPs are available on the state Division of Purchasing and Materials Management's website at www.moolb.mo.gov. Proposals for the third-party administrator and fixed-income annuity search are due at 2 p.m. CDT July 20. Proposals for the stable-value investment fund search are due at 2 p.m. CDT July 12. Mr. Scott could not provide a timetable for final presentations or selections.
Each of the plans offers 33 investment options. Mercer Human Resource Consulting is assisting.
