Updated with correction
City of Norwalk, Conn., is searching for an administrator and record keeper for its newly created 401(a) plan, according to an RFP posted on the city's website.
The creation of the 401(a) plan is the result of the closing of the City of Norwalk (Conn.) Municipal Employees Defined Benefit Plan to employees hired on or after July 1. The defined benefit plan had $21 million in assets as of May 31, according to minutes of the June 13 board meeting.
The RFP also states that the city has the option to have the administrator and record keeper provide services for the city's existing 403(b) and 457 plans. Asset sizes for the two plans could not be learned by press time.
Proposals are due at 2 p.m. EDT on Sept. 13. The city is seeking a firm to begin a five-year contract on Dec. 1, with an option to renew for two successive two-year periods.
The RFP is available on the city's website.
Phone calls to Thomas Hamilton, city director of finance, and Gerald J. Foley, purchasing agent, were not returned by press time.