Henrico County, Va., is searching for record keepers for the county’s central government 457 plan and public schools’ 403(b) and 457 plans, said an RFP on the county’s website.
The county, “while open to considering a single provider solution to all plans,” will not necessarily do so, according to the RFP.
ICMA-RC and Voya Retirement Services are the current record keepers for the central government’s 457 plan, which has $130 million in assets. VALIC is the current record keeper for the public schools’ 403(b) and 457 plans, which have a combined $90 million in assets.
Whether the firms are invited to rebid could not be learned by press time.
The RFP is available on the county’s website. Proposals are due at 2 p.m. EST on Jan. 14, with a decision tentatively expected in March or April.
Investment consultant SageView Advisory Group is assisting.
Cecelia H. Stowe, county purchasing manager, did not return a phone call by press time. Nichole Labott, retirement plan consultant at SageView, referred questions to the county’s purchasing department.