(updated with correction)
Birmingham-Jefferson County Transit Authority, Birmingham, Ala., issued an RFP for a service provider for its $1 million 401(a) plan and a new 457 plan.
Services sought include investment management, record keeping, administration, communication/education and custody, according to the RFP.
More than one firm will be considered, said Darryl Grayson Sr., procurement officer at the authority.
Regions Institutional Retirement Services is the current provider. It could not be learned whether Regions may rebid.
The search was being conducted because of the introduction of the 457 plan, Mr. Grayson said.
The RFP is available on the transit authority's website.
Proposals are due at 4 p.m. CST Jan. 22. A selection is expected in March, Mr. Grayson said.
The 401(a) plan's assets are in a money market account, Mr. Grayson said.
