Nebraska Employees Retirement System, Lincoln, issued an RFP for a single record keeper for its two 401(a) plans and new deferred compensation plan, said Anna Sullivan, spokesman.
Ameritas Life Insurance is the incumbent record keeper for the $700 million state employees' and county employees' 401(a) plans. The firm is expected to bid along with ITT Hartford Insurance, which provides bundled services for Nebraska's voluntary deferred compensation program, already in place.
Unlike the current ITT Hartford-managed plan, the new deferred compensation plan, which will co-exist with the existing plan, will not include annuity products, said Ms. Sullivan.
A search for managers has not yet started, but the plan is not expected to be in place until the midyear. A decision on the record keeper is expected by early March.