Nevada Deferred Compensation Program, Carson City, likely will search for at least one record keeper in the first quarter of 2014, confirmed Reba Coombs, program coordinator.
The $612 million 457 plan's current record keepers are ING U.S. Retirement Services and MassMutual Financial (formerly Hartford Retirement Services).
Their contracts were set to expire on Dec. 31, 2012, and a request for proposals was originally issued in March 2012. Some committee members were concerned about the wording of the RFP, according to Ms. Coombs, and the contracts of the providers were renewed for two years until Dec. 31, 2014.
Both firms will be invited to rebid. According to a tentative schedule, the RFP would be issued on March 5, 2014, with responses due on April 30, 2014 with a decision expected in July 2014.
