Limerick Township, Limerick, Pa., is searching for a bundled provider for its 401(a) and 457 plans, said Beth F. DiPrete, the township’s assistant manager and treasurer.
The township issued an RFP for the two plans with combined assets of $2 million because of the good experience it had going through an RFP process for the township’s two defined benefit plans, Ms. DiPrete said. Current provider VALIC is invited to rebid.
The township issued an RFP in February for an investment consultant for the Police Pension Plan and Non-Uniformed Pension Plan, which have combined assets of $7 million, due to personnel changes at incumbent consultant Morgan Stanley. The township hired Univest Municipal Pension Services in May.
The RFP is available on Limerick’s website. Proposals are due at 4 p.m. EDT on Sept. 5. Ms. DiPrete said the township hopes to complete the process by the end of the year.