Green Mountain Secure Retirement Plan, Montpelier, Vt., reissued an RFP for third-party administrative services for a new state-run defined contribution plan for private-sector employees.
The new plan will be effective Jan. 1, 2020. The state previously issued an RFP in June 2018 but did not move forward then because the authorizing statute at the time was more limited, specifically requiring that the Secure Retirement Plan be a multiple employer plan.
According to the new RFP, Vermont's general assembly earlier this year amended the statute to broaden the scope of plan structures, allowing either a multiple-employer plan or aggregated single-employer plans.
The RFP is available on the state of Vermont's procurement website. Proposals are due at 3 p.m. EDT on July 8, with finalist selection taking place by July 31 and a project start date scheduled for Sept. 17.
A spokesman in the state's treasury department declined to comment.