Washtenaw County, Ann Arbor, Mich., is searching for bundled providers for its $22.8 million 457 deferred compensation plan, according to RFP documents.
“Washtenaw County is seeking to establish a pool of highly qualified employment benefit companies (that) specialize in 457 deferred compensation plan administration,” the RFP stated. The proposal also went on to state that new firms selected might be added right away to the plan's lineup as “supplemental” administrators or might be placed in “the eligible pool for future selections.”
Five unnamed vendors now provide bundled services to the plan, the RFP said.
Monica L. Boote, Washtenaw County's human resources operational director, did not return calls seeking information about the 457 RFP and the results of a search for a bundled record keeper for the county's 401(a) plan, which goes live on Jan. 1, 2014.
The $227 million Washtenaw County Employees Retirement System will be closed to new hires, and current employees may transfer to the new DC plan from the DB plan.
The 457 RFP is available on the county's purchasing website. RFP responses are due by 4 p.m. EST Dec. 12.