Springdale, Ark., is searching for bundled providers for its 401(a) and 457 plans, confirmed Loyd Price, director of human resources for the city.
ICMA-RC is the provider for the 401(a) plan and, along with Nationwide Retirement Solutions, a provider for the 457 plan. Both firms are invited to rebid. The plans have a combined $8.7 million in assets.
The city decided to issue an RFP to try to get the “best bang for the buck,” Mr. Price said in a telephone interview. More than one firm could be hired.
The RFP is available on the city's website. Proposals are due at 4 p.m. CDT April 30. A hiring date has not been decided.