Beaverton, Ore., hired ICMA-RC as record keeper for its $38 million 457 plan, according to a notice of intent to award posted on the city's website.
The city issued an RFP in August. Current record keeper Empower Retirement rebid for the services. The notice included final scoring, in which ICMA-RC received the highest score. The overall reason for the change was not provided. Whether Empower Retirement was considered a finalist could not be immediately learned.
Brent Petty, president of Northwest Capital Management, which assisted in the search, was not available to provide further information by press time. Terry L. Murault, city purchasing agent, could not be immediately reached to provide further information.