Hillsboro, Ore., is searching for a record keeper for its $51 million 457 plan and $1 million 401(a) plan.
The city is considering consolidating to a single record keeper from the two record keepers it currently uses for the plans, according to an RFP posted on the city's website.
Those current record keepers are MissionSquare Retirement and Nationwide Financial. Both firms are eligible to rebid, said Jon Maertz, senior plan adviser at investment consultant NFP Retirement, which is assisting with the search, in an email.
The RFP is available on the city's purchasing website. Registration is required. Proposals are due at 2 p.m. PDT on Aug. 4. A timeline for a selection was not provided, but the proposed contract start date is Nov. 1.
