Washington State Department of Retirement Systems, Tumwater, is searching for a general consultant for its $3.6 billion 457 plan, as well as three Plan 3 defined contribution plans whose investments are overseen by the $109 billion Washington State Investment Board, Olympia, said Jilene Siegel, RFP coordinator.
The department issued an RFP because the contract of current consultant Cammack Retirement Group is expiring. The firm is invited to rebid.
The selected consultant’s contract would begin in March and run through June 2020. Ms. Siegel said the consultant will likely assist in an RFP for a record keeper at some point before the end of that contract. Empower Retirement is the current record keeper for the plans.
The Plan 3 DC plans are the defined contribution components of hybrid plans of the Teachers’ Retirement System, School Employees’ Retirement System and Public Employees’ Retirement System, and have combined assets of $11.5 billion.
The RFP is available on the department’s website. Proposals are due at 4 p.m. PST on Jan. 23. A decision is expected Feb. 17.