Washington State Department of Retirement Systems, Tumwater, is searching for a record keeper for its $4.4 billion 457 plan, as well as three Plan 3 defined contribution plans whose investments are overseen by the $130.2 billion Washington State Investment Board, Olympia, spokesman David Brine said in an email.
Current record keeper Empower Retirement is eligible to rebid, Mr. Brine said.
The Plan 3 DC plans are the defined contribution components of hybrid plans of the Teachers' Retirement System, School Employees' Retirement System and Public Employees' Retirement System, and have combined assets of $13.6 billion.
The RFP is available on the department's website. Proposals are due at 4 p.m. PST on Dec. 10. A decision is expected Feb. 1.
Investment consultant Cammack Retirement Group is assisting.