Springfield, Ill., is searching for a single record keeper for its $75 million 457 plan.
The city issued an RFP because it wants to consolidate the plan to a single record keeper from the five firms currently providing services to the plan, according to the RFP posted on the city’s procurement website.
The current record keepers are AIG Retirement Services, AXA Equitable, Horace Mann, Transamerica Retirement Solutions and Voya Financial.
The firms are invited to rebid, said Anthony Quinones, assistant purchasing agent, in an email.
The RFP is available on the city's procurement website. Proposals are due at 3 p.m. CDT on July 16. An award is expected on July 31.
City officials could not be immediately reached for further information.
