Vermont State Treasurer’s Office is searching for one or more bundled providers for the state’s two 401(a) plans, confirmed Steve Wisloski, deputy state treasurer.
The two plans are the $45 million Vermont State Employees’ Defined Contribution Plan and the $16 million Vermont Municipal Employees’ Defined Contribution Plan, both of Montpelier.
The contract of Fidelity Investments, the current bundled provider of both plans, expires on Aug. 31, and state law requires that an RFP be issued. Fidelity is invited to rebid.
The RFP is available from the treasurer’s website. Proposals are due at 2 p.m. EDT July 9. The treasurer’s office hopes to have a new contract beginning Sept. 1.