Tennessee Department of Treasury, Nashville, is searching for a firm to provide third-party administrative services for the state's defined contribution plan, its 529 college savings program and its new hybrid retirement plan, confirmed Blake Fontenay, spokesman for David H. Lillard Jr., state treasurer.
The current provider for the state's $1.8 billion DC plan is Great-West Retirement Services; it is invited to rebid. The state administers the $7 million TNStars 529 College Savings Program. The hybrid retirement plan will be created for state and higher education employees and K-12 public school teachers hired on or after July 1, 2014.
An RFI was issued in May; Mr. Fontenay wrote in an e-mail that the RFI was used primarily to gather information and now the department is beginning the actual procurement process.
The RFP is available on the state's website. Proposals are due at 2 p.m. CST on Nov. 12. Finalist interviews are scheduled for Dec. 18-19, with a final decision scheduled for Feb. 21, 2014.