Riverside, Calif., is searching for one or more providers for its 401(a) and 457(b) plans and frozen retirement health-savings plan, said an RFP on the city’s website.
The selected firm or firms will provide administration, record-keeping and education, among other services.
ICMA-RC currently administers the 401(a) plans, one of the 457(b) plans and the retirement health-savings plan with $91 million in assets combined. Empower Retirement administers the other 457 plan with $81.5 million in assets.
The reason for the search and whether ICMA and Empower can rebid could not immediately be learned.
The RFP is available on the city’s website. Registration is required. Proposals are due by 4 p.m. PST on Nov. 10.
Finalist interviews are tentatively scheduled for the Feb. 6-9 with a potential hiring decision in March and a July 1 implementation date.
Evan Pickering, client service manager, Benefit Financial Services Group, consultant to the plans, could not immediately be reached for additional information.