Missouri State Public Employees' Deferred Compensation Commission, Jefferson City, is looking 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, the 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. Mr. Scott could not provide a timetable for making selections.
Each of the plans offers 33 investment options. Mercer Human Resource Consulting is assisting.