Arvada looking for bundled provider

Arvada, Colo., plans to look for bundled service providers for the city’s six defined contribution plans with a combined $139 million in assets, said Jo Mattoon, director of human resources for the city. Fidelity Institutional Retirement Services is the incumbent for the city employees’ and police 401(a) plans, and ICMA-RC is the incumbent for a 457 plan and three other 401(a) plans covering executives. Both firms can rebid. “We’re just doing our good due diligence,” Ms. Mattoon said. “It’s been decades since some of these have gone out (to bid).”