Juneau, Alaska, is searching for a third-party administrator for its 457 deferred compensation plan, confirmed Greg Settle, senior retirement plan and investment consultant at Hyas Group, consultant to the $27 million plan.
Incumbents MassMutual, ICMA-RC and AXA Equitable are invited to rebid. The contracts are not expiring; the city wanted to review the plan and make sure it was “competitive and up to date,” Mr. Settle said in an e-mail. The city is considering consolidating to one provider.
The selected firm will provide administration, record keeping, education, participant investment advice and investment management services, according to the RFP.
The RFP is available on the city's website. Proposals are due at 5 p.m. PST Nov. 11. A hiring decision is expected in January or February.