Marin County, San Rafael, Calif., is searching for a bundled provider for its four 457 deferred compensation plans, confirmed Jake O'Shaughnessy, advisor at Arnerich Massena, consultant to the plans.
Nationwide Retirement Solutions is the current provider for the plans, which have a combined $192 million in assets. It could not be learned by press time if Nationwide can rebid. Mr. O'Shaughnessy said there is a “strict policy against commenting on client initiatives in process.”
The largest plan, which has about $177 million in assets, has 25 investment options in addition to five risk-based portfolio options.
The RFP is available on the county's website. Proposals are due at 4 p.m. PDT Aug. 5. A hiring date has not been set.