Alexandria (Va.) Firefighters and Police Officers Pension Plan and Alexandria Deferred Compensation Plan are searching for a third-party administrator and platform provider for both DC plans, according to an RFP posted on consultant Dahab Associates' website.
The 457 deferred compensation plan has about $110 million in assets; the fire and police plan, a closed 401(a) plan, has about $17 million.
ICMA-RC is the current administrator for the 457 plan; Prudential administers the 401(a) plan, said Barry Bryant, managing director at Dahab and consultant to the retirement funds. They are invited to rebid.
The selected firms must provide at least semiannual education seminars, according to the RFP.
The RFP is available on Dahab's website. The contract is for five years with two two-year extensions.
Proposals are due by 3 p.m. EDT April 26. A hiring decision was not specified. Mr. Bryant was not available for additional information.
Separately, the pension fund committed $5 million to Hancock Timber Resource Group in February, Mr. Bryant confirmed.