South Carolina Public Employee Benefit Authority, Columbia, is searching for a bundled provider for the state's $3.9 billion 401(k) plan and $1.1 billion 457 plan.
The authority is seeking a firm to provide record keeping and administration, communication and education, custodial and trustee services, and investment management services for the plan, according to an RFP posted on the state's procurement website.
The RFP said the contract for current provider Empower Retirement will expire Dec. 31. It does not disclose whether the firm is invited to rebid, but the last time the services were put up for bid in 2019 due to a contract expiration at the end of that year, Empower was the incumbent and was rehired.
The RFP is available on the state's procurement website. Proposals are due by 11 a.m. EST on March 18. An intent to award is scheduled for April 11.