Hawaii Deferred Compensation Fund, Honolulu, issued an RFP for an independent third-party administrator for its $1.5 billion 457 plan, confirmed Cynthia Akiyoshi, personnel management specialist.
Incumbent ING Retirement Services is invited to rebid.
The deferred comp plan currently has 15 investment options as well as series of lifecycle funds.
The third-party administrator is responsible for day-to-day administration and coordination of the plan, marketing investment products approved by the board and educating participants, among other duties, according to the RFP.
The RFP is available on the state's website.
Proposals are due at 3 p.m. HST July 18. Finalist interviews will take place Sept. 4-7 with a hiring decision expected Oct. 23.