St. Louis County is searching for record keepers for its $154 million 457 plan, said John Tigert, senior procurement contract administrator, in an email.
The county issued an RFP because it has been many years since the services have been put up for bid, and the county wishes to fulfill its fiduciary responsibility to do so, Mr. Tigert said. The county's current record keepers are Nationwide Financial and Prudential Financial. Both are invited to rebid. The county would be open to consolidating to a single record keeper, he added.
Nationwide's lineup has 56 investment options with total assets of $35 million, while Prudential's lineup has 19 investment options with total assets of $119 million.
The RFP is posted on the county's website. Proposals are due at 11 a.m. CDT on July 23. An award is scheduled to be announced Sept. 15, with a contract start date of Jan. 1.