Montana Public Employees' Retirement Board, Helena, is searching for a third-party administrator for the state's $105 million 401(a) plan and $392 million 457 plan, confirmed Rick Dorvall, state of Montana procurement officer.
According to an RFP, the board is searching for a firm to provide unbundled services that include plan administration, record keeping, and marketing and education services for the plans.
The current third-party administrator is Great-West Retirement Services; the RFP is being issued because the firm's contract expires June 30, 2014. Great-West is invited to rebid.
The RFP is available on the state's website. Proposals are due Nov. 14. Finalist interviews are scheduled for Dec. 13, with a firm scheduled to be chosen Jan. 15. A five-year contract would begin July 1, 2014.
Roxanne Minnehan, executive director of the Montana Public Employee Retirement Administration, which oversees the board, did not return phone calls by press time.