Maine's department of administrative and financial services is searching for one or more administrators for the roughly $404.5 million state deferred compensation plan, said an RFP on the plan's website.
The selected firm or firms will provide administration, communication/education, custodial and unbundled investment management services for the Augusta-based plan.
Information on the reason for the search and whether incumbent administrators MassMutual Financial Group, VALIC, and Voya Financial can rebid, could not immediately be learned.
The RFP is available on the plan's website. Proposals are due by 2 p.m. EDT on July 7. A timeline for a hiring decision could not be learned by press time.
Xerox HR Services, formerly Buck Consultants, is the plan's consultant.
Kurt Caswell, director of benefits administration, could not immediately be reached for additional information.
