Torrance, Calif., will launch a search for a record keeper for its $200 million 457 plan within the next two months, said Dana Cortez, city treasurer, in an email.
Ms. Cortez said the city is issuing the RFP because the contract of current record keeper Empower Retirement is expiring in May 2018. The firm will be invited to rebid.
The RFP will be posted on the city's website within 60 days, Ms. Cortez said. A timeline for when proposals will be due and when a decision will be made has yet to be determined.