Fort Worth, Texas, is searching for a bundled provider for its 457(b) deferred compensation plan, confirmed Marilyn Jackson, purchasing supervisor, contracts.
The city wants to move to a single provider from the two it now has. Those firms, Nationwide Retirement Solutions and ICMA-RC, can rebid. The selected firm will provide record keeping, administration, education and investment management services, according to the RFP.
The plan has $161 million in assets — Nationwide provides services for about $134 million among 38 investment options, and ICMA-RC, $27 million with 47 options. Both offer target-date funds.
The RFP is available on the city's procurement website.
Proposals are due at 1:30 p.m. CDT June 6. The City Council will vote on a hiring decision Aug. 20.