Santa Ana, Calif., will search for a record keeper in 2017 for its $100 million 457 plan, said Sergio Vidal, the city's assistant director of finance.
The city will issue an RFP because of the city's policy to put services up for bid every five to seven years; current record keeper Empower Retirement's contract expires on July 31 and the firm will be invited to rebid.
Mr. Vidal did not have information on a specific timeline for the RFP, just that it will occur sometime in the first half of the year.
Investment consultant Benefit Financial Services Group will assist.
