Westport, Conn., issued an RFP seeking administrative services for its defined benefit and defined contribution plans, said Ralph M. Chetcuti, the town’s human resources director.
The town of Westport sponsors six DB plans totaling about $260 million in assets. Westport also sponsors two DC plans totaling about $14 million.
Wells Fargo is the current administrator. It is invited to rebid. Mr. Chetcuti said the town prefers to hire one administrator for all of the plans, but would consider hiring two.The RFP can be found on the town’s website. Proposals are due at 11 a.m. EDT on Sept. 2. A selection is expected to be made Sept. 16.