Arizona to seek at least one 403(b) provider

The Arizona Board of Regents plans to search for at least one bundled provider for its 403(b) plan, said Mary Adelman, assistant for business and finance. The board began a search this week for a consultant to help write an RFP for providers, who need to be in place by Jan. 1, 2009. The move is being made to comply with new federal regulations, Ms. Adelman said. The plan now has about 40 providers. “We have no idea, no way to calculate (total assets),” she said. The fund covers employees at the board and the state’s three public universities.