Anchorage, Alaska, is searching for a single record keeper for its $270 million 457 plan and $163 million 401(k) plan, Ronald Hadden, city purchasing officer, said in an email.
The city issued the RFP to have both plans use a single record keeper. Empower Retirement currently provides these services to the 457 plan, and T. Rowe Price Group does so for the 401(k) plan. Both firms are invited to rebid.
Whether the firms are eligible to rebid could not be immediately learned.
Investment consultant RVK is assisting.
The RFP is available on the city’s purchasing website. Proposals are due at 5 p.m. Alaska Daylight Time on Sept. 14. A timeline for a decision was not provided.