Gilbert, Ariz., is searching for a bundled provider for its $40 million 457 plan, said Ernestine Tesarek, town contract specialist, in an email.
The town issued an RFP because it has not done so in more than 10 years, Ms. Tesarek said. The town is also seeking to consolidate the plan to a single provider. The current record keepers are AIG Retirement Services, ICMA-RC and MassMutual Financial. All are invited to rebid.
The RFP is available on the town's website. Proposals are due at 2 p.m. MDT on July 1. The town hopes to make a decision in September or October.
Investment consultant Innovest Portfolio Solutions is assisting.