Butte County, Oroville, Calif., is searching for one or more record keepers for its $51 million 457 plan and $3 million 3121 plan, said Vincent Galindo, senior consultant at Hyas Group, the plans' investment consultant, in an email.
The county has issued an RFP for a firm or firms to provide "retirement plan administration, record keeping, education, communications, investment-related, and other related services for the plan," Mr. Galindo said. The 457 plan's current record keepers are Empower Retirement and ICMA-RC. Empower is the sole record keeper of the 3121 plan, which serves part-time, seasonal and temporary county employees.
Mr. Galindo said "odds are" the county will consolidate to a single record keeper, but multiple record keepers are still a possibility. Both current record keepers are invited to rebid.
The RFP is available on the Public Purchase procurement website. Registration is required. Proposals are due at 5 p.m. PDT on April 20. Finalist interviews are scheduled for June 8, with a decision to follow shortly thereafter.
