Orland Park, Ill., is searching for a bundled provider for its $17 million 457 plan and $2 million 401(a) plan.
The village launched a search because it wants to consolidate the assets of four record keepers to a single provider that will offer bundled administrative and record-keeping services, according to an RFP posted on BidNet Direct, a procurement website.
The current record keepers are AXA Retirement Services, Empower Retirement, ICMA-RC and Nationwide Financial. The RFP did not disclose whether the current record keepers are eligible to rebid.
The RFP is available on BidNet Direct. Registration is required. Proposals are due at 11 a.m. CDT on June 10. A timeline for a selection was not provided.
Village officials could not be immediately reached for further information.