Nevada System of Higher Education, Reno, is searching for up to three firms to provide record-keeping, administration and trustee/custodial services for three 403(b) plans and one 401(a) plan, confirmed Melanie Lever, buyer.
The search is being conducted due to the pending expiration of the contracts of current providers Fidelity Investments, TIAA-CREF and VALIC on Dec. 31. All are invited to rebid. Each provides all three services to all four plans.
The RFP is available on the education system's website. Proposals are due at 2 p.m. PDT on July 2. A selection is expected during the week of Sept. 3, with an implementation date scheduled for Jan. 1, 2014.
The four plans have combined assets of $1.9 billion.
Hewitt EnnisKnupp is assisting.
Michelle Kelley, project manager and benefits manager at the University of Reno who is overseeing the search, did not return a phone call by press time.