Auburn, Wash., is searching for record keepers for the city’s $15 million 457 plan, said an RFP posted on the city’s website.
The city issued an RFP in order to reduce the number of record keepers to two from five “in an attempt to reduce overall investment fees to participants, increase investment options by including a Roth post-tax option and strengthen the city’s portfolio strategy for participants,” the RFP said.
The RFP did not name the five current providers or whether they are invited to rebid.
Proposals are due at 5 p.m. PDT on June 10. A timeline for a decision was not available.
The RFP is available on the city’s website.
Rob Roscoe, the city’s director of human resources and risk management, could not be immediately reached to provide further information.