North Dakota Public Employees Retirement System, Bismarck, expects to issue an RFP in December for a record keeper for its $10 million 401(a) plan and $74 million 457 companion plan, said Bryan Reinhardt, research and planning manager, in an e-mail.
The search is being conducted due to the upcoming contract expiration of incumbent record keeper TIAA-CREF and the retirement system’s policy of periodically putting services out to bid. TIAA is invited to rebid.
The retirement system expects to post the record-keeper RFP on its website. A hiring decision is expected next March.
NDPERS has already issued an RFP for a firm to assist with the record-keeper search. That RFP is available on the retirement system’s website. Proposals are due by 5 p.m. CDT on July 8. A decision is expected no later than August.