Livonia, Mich., is searching for a consultant for its $56 million 401(a) plan and $60 million 457 plan.
The chosen firm will be asked to review the city's two plans, which might lead to a search for new providers, said Michael Slater, director of finance. The funds' current providers would be permitted to rebid if a search takes place, Mr. Slater said. The plans do not currently have a consultant.
The current 401(a) plan provider is Empower Retirement and the 457 plan providers are ICMA-RC, Nationwide Retirement Solutions and MassMutual Retirement Services.
The RFP is available on Financial Opps Bid Network's procurement website. Proposals are due by 2 p.m. EDT on April 23. A hiring date was not specified.
