Arlington (Va.) Public Schools is searching for two record keepers for its 403(b) and 457 plans.
In an RFP posted on the public schools' website, APS said it is searching for one record keeper to provide services including creating an investment options lineup and another record keeper to provide administrative services while the schools' investment committee is in charge of the investment options lineup.
The 403(b) plans' current vendors are AXA Equitable Life Insurance Co., ING U.S. Retirement Solutions, Lincoln Financial Group and MetLife. The 457 plan's sole vendor is ING. Whether the firms are invited to rebid could not be learned by press time.
The plans' combined assets total $98 million.
Proposals are due at 2 p.m. EDT on Sept. 4. A timetable for a decision has yet to be determined, although the RFP said the contract will start Jan. 1.
The RFP is available on APS' website.
Phone calls to Betty Hobbs, assistant superintendent of human resources, and Fran Jones, senior buyer, were not returned by press time.
