Philadelphia Board of Pensions and Retirement is searching for a third-party administrator to provide record-keeping, administrative and educational services for the city's 457 deferred compensation plan and the defined contribution portion of its hybrid plan, which have a combined total of more than $900 million.
The search is being conducted to comply with legal requirements that contracts go out to rebid every four years, said Christopher R. DiFusco, chief compliance officer for the pension board. Incumbent ICMA-RC is invited to rebid.
The RFP is available on eContract Philly, the city's procurement website. Proposals are due by 5 p.m. EDT on June 3. A selection is expected to be made during the summer.