Searches and Hires

Prince William County seeks 457(b), 401(a) provider

Prince William County, Woodbridge, Va., is searching for a service provider for its $221 million 457(b) and $71 million 401(a) plans, said an RFP posted on the county's procurement website.

The reason for the search could not immediately be learned. ICMA-RC is the current provider, according to the RFP.

Interested firms must have at least two 457(b) plans with assets of $300 million, be able to provide salaried on-site representatives, and have at least 850,000 participants on the proposed record-keeping system, the RFP states. Consultant Bolton Partners is assisting with the search.

The RFP is available on the county's procurement website. Proposals are due at 2 p.m. ET on July 31. A hiring date was not provided.

As of the first quarter 2018, the county's 457(b) had allocations of 44% in balanced funds, 32% to U.S. stock funds, 14% stable value/cash management, 5% bonds, 3% international/global stock funds and about and 1% guaranteed income fund, according to a report on the county's website. The 401(a) plan had allocations of 52% balanced funds, 32% U.S. stock funds, 9% stable value /cash management, 3% bonds and 2% in international/global stock funds.

A Bolton Partners official could not be reached for comment.