Searches and Hires

Sound Transit seeks record keeper, custodian for 401(a), 457 plans

Sound Transit, Seattle, is searching for a record keeper and custodian for its $215 million 401(a) plan and $44 million 457 plan.

The transit authority is seeking a firm or firms to provide record keeping and custodial services for the plans, according to an RFP posted on Sound Transit's procurement website.

The current record keeper is Empower Retirement, and the current custodian is Wells Fargo. Whether the firms are eligible to rebid, and whether the transit authority is seeking one or two firms could not be immediately learned.

Registration is required to access the RFP. Proposals are due at 2 p.m. PST on Feb. 14. A decision is expected sometime in March.

Rob McMartin, senior contracts specialist, could not be immediately reached to provide further information.