New Castle County (Del.) Deferred Compensation Committee will begin a search in the first quarter of 2022 for a third-party administrator for the county's $50 million 457 plan.
The committee will issue an RFP due to the upcoming expiration of current administrator MetLife's contract, said Francis Benevento, the county's pension and benefits administrator.
MetLife will be eligible to rebid, Mr. Benevento said.
The deferred compensation committee is currently in the process of developing the RFP, and Mr. Benevento said it should be issued in about two or three months.
A timeline for the RFP has yet to be determined. The county posts RFPs on its website.
