Maumelle, Ark., is seeking a bundled provider for its $2.5 million 401(a) plan, said Vernon James, director of human resources for the city.
The selected firm will provide record keeping, administration and investment services, according to the RFP. The one-year contract will begin on Jan. 1. The contract can be renewed up to seven years, the maximum term allowed by Arkansas statutes.
Mr. James said the city is conducting the search to “see what else is out there.” The services have not gone out to bid in several years; Mr. James could not provide specifics on how long it has been. The contract of incumbent Great-West Retirement Services expires Dec. 31. Great-West is invited to rebid, Mr. James said.
The RFP can be obtained by e-mailing Mr. James at [email protected]. Proposals are due by 2 p.m. CDT on June 27. A hiring decision is anticipated at the end of July, Mr. James said.