New York Power Authority, White Plains, is accepting proposals from firms to provide record-keeping, investment and trustee services for the authority’s $93.8 million 457 deferred compensation plan and $279.3 million 401(k) Employees’ Savings Plan, an RFP said.
NYPA spokesman Steven Gosset said the contract with incumbent service provider T. Rowe Price is set to expire. T. Rowe price is invited to rebid.
Firms have the option to bid on any or all of the services or for one or both plans. The NYPA likely will hire one firm for both plans. The contract is expected to be up to five years.
The RFP can be found on NYPA’s website. Registration is required.
Proposals are due at 5 p.m. EST on March 5. A selection is expected by May 18.