Metropolitan Transportation Authority, New York, is searching for a third-party administrator for its $2.4 billion 401(k) plan and $1.7 billion 457 plan.
The MTA issued an RFP due to the pending contract expiration of current third-party administrator Prudential Financial on Oct. 31. Whether the firm can rebid could not be learned by press time.
Prudential provides administrative, record-keeping, marketing, investment and financial education services for the plans, according to the RFP obtained by Pensions & Investments.
Proposals are due at 4 p.m. EDT on June 27. Finalist presentations are tentatively scheduled for the week of Aug. 11. The five-year contract is scheduled to begin Nov. 1.
The RFP can be obtained by e-mailing Tjuana Simpson, procurement administration coordinator, at [email protected].
Margaret M. Connor, senior director, human resources/retirement program, and Amedeo Bruno, senior contract manager, did not return phone calls by press time. Ms. Simpson did not respond to requests for further information.
