Peoria, Ill., is searching for record keepers for its 457 plan, said Janet Tomlins, the city's human resources coordinator.
The city issued an RFP for record keepers because the services had never been put up for open bidding before, and the city decided it was time to do so, Ms. Tomlins said. Current record keepers ICMA-RC, Nationwide Financial and Voya Retirement Services are all invited to rebid. The number of record keepers to be hired has yet to be determined. Ms. Tomlins could not provide an asset size for the plan.
Proposals are due on Sept. 11. A timeline for a decision was not provided, but the plan would transition to the new record keeper on Jan. 1, 2018.
The RFP is available on the city's purchasing website.
