New York State Deferred Compensation Plan, Albany, is searching for a record keeper.
The RFP is routine, and it is due to the expiration of the contract of incumbent record keeper Nationwide Retirement Solutions on March 31, 2023, David Fischer, executive director of the $33.4 billion deferred compensation plan, said in an email.
Nationwide is invited to rebid for the new contract that will run "eight or potentially more years," Mr. Fischer said. The plan's rules and regulations allow for extending a record-keeping contract for up to a pair of one-year periods.
The current contract could be extended by one year if a record keeper hasn't been selected, Mr. Fischer wrote.
The RFP was issued now because the plan "has many participating employers and will require one full year for a conversion," he wrote.
The RFP is available on the plan's website. Proposals are due by 5 p.m. CDT on July 25. Finalists will be interviewed in late October or November. The plan's governing board will make its choice Dec. 10, the RFP said.
