Richmond, Calif., is searching for a defined contribution plan consultant to assist in the search for a single record keeper for the city's 457 plan.
The city is seeking a firm to provide assistance in a request-for-proposal process for the plan's record keepers, according to an RFP posted on the city's procurement website.
The selected consultant will draft an RFP for a single vendor "to provide comprehensive retirement plan services, including record keeping/administration, participant education and communication, participant and plan sponsor web access to plan information, custodial trustee services, and services to support the investments offered by the plans and complete transitional services and experience," according to the consultant RFP.
The current record keepers are Lincoln Financial Group, MassMutual Financial and Voya Financial. Whether all firms are eligible to rebid in the eventual RFP could not be immediately learned.
The plan's asset size could not be immediately learned.
The RFP is posted on the city's procurement website. Registration is required. Proposals are due at 5 p.m. PST on Jan. 25. A selection is expected in February.
Dorothy Mandujano, senior management analyst for the city, could not be immediately reached for further information.