Rockville (Md.) Employees' Retirement System is searching for a single third-party administrator for its $98 million defined benefit plan, $36 million 401(a) plan and $27 million 457 plan.
The retirement system issued an RFP because of the impending contract expirations of current providers Prudential Financial, which serves the pension plan, and MassMutual Financial, which administers the DC plans. Both firms are invited to rebid; the retirement system plans to hire one firm for all three plans.
The RFP is available on the city's procurement division website. Proposals are due by 2 p.m. EST on Jan. 23.
A spokesman could not immediately be reached to provide further details as to when a decision will be reached.