Tennessee Department of Treasury, Nashville, has issued a request for information for third-party administration services for the state’s defined contribution plan, its 529 college savings program and its new hybrid retirement plan, confirmed Blake Fontenay, spokesman for David H. Lillard Jr., state treasurer.
The current provider for the $1.8 billion DC plan is Great-West Retirement Services; it is invited to rebid. The state administers the TNStars 529 College Savings Program, according to Mr. Fontenay.
The hybrid retirement plan will be created for state and higher education employees and K-12 public school teachers hired on or after July 1, 2014.
Legislation creating the plan, proposed by Mr. Lillard in March, was signed by Gov. Bill Haslam on April 24.
Responses are due at noon CDT on June 5.
The RFI is available at the website of the National Association of Treasurers.