Clearwater, Fla., is searching for a record keeper for its $67 million 457 plan and $8 million 401(a) plan, said Alyce Benge, purchasing manager.
The city has issued the RFP for due diligence purposes, Ms. Benge said. The objective is to a single record keeper but "reserves the right to select multiple record keeper(s) and/or retain current record keeper(s) in the best interest of both the city and plan participants," according to the RFP.
ICMA-RC and Nationwide Financial are the current record keepers for the 457 plan and ICMA-RC is the sole record keeper for the 401(a) plan. Both are invited to rebid.
Proposals are due at 10 a.m. EST on Feb. 15. A decision is expected on April 13; City Council approval is expected sometime in May.
The RFP is available on the city's purchasing website.
