Miami Parking Authority is searching for an investment consultant and third-party administrator for a potential 401(a) plan, confirmed Scott Simpson, chief financial officer.
The 401(a) plan would begin for new hires on July 1, following the closing of the authority's $14 million pension fund to new participants on June 30.
Mr. Simpson wrote in an e-mail that the closing of the DB plan and creation of the 401(a) plan are still being discussed and no final determination has been made.
The RFP is available from the authority's website. Proposals are due at 10 a.m. EDT on May 6.