Metropolitan Water District of Southern California, Los Angeles, is seeking a third-party administrator for its $343 million 401(k) plan and $110 million 457(b) plan, said Bob Muir, spokesman.
The selected firm will provide administration, investments, record keeping, education, counseling and participant investment advice, according to the RFP.
Incumbent Great-West Retirement Services can rebid. Great-West, which manages a stable value fund for the plans, said the fund can still be used even if it is not rehired, according to the RFP.
The RFP is available on procurement website PlanetBids. Proposals are due by 11 a.m. PDT on July 1. A hiring decision is anticipated by December.