West Palm Beach, Fla., is searching for a bundled provider for its $116 million 401(a) plan and $33 million 457 plan, according to an invitation to negotiate posted on the city's procurement website.
The city is seeking a firm to provide services " including record keeping, open architecture investment capabilities, trust, compliance and employee communications and education (including retirement, investments and other related topics)," according to the document. The current provider is Empower Retirement; whether the firm is eligible to rebid could not be immediately learned.
Proposals are due at 3 p.m. EDT on Aug. 23. A timeline for a decision was not available.
The ITN is available on the city's procurement website. Registration is required.
Josephine Grosch, the city's senior purchasing agent, could not be reached to provide further information.