Stockton, Calif., is searching for a single record keeper for its two 457 plans and 401(a) plan, according to an RFP posted on the city's website.
The city is conducting the search in order to consolidate the plans to a single record keeper to reduce expenses, the RFP said.
The RFP does not disclose the names of current record keepers or whether they are invited to rebid.
The plans are a $274 million 457 plan for full-time employees, a $3 million 457 plan for part-time, seasonal and temporary workers, and a $3 million 401(a) plan.
The RFP is available on the city of Stockton's website. Proposals are due at 2 p.m. PDT on April 21. A timeline for a selection was not provided.
Mark Shuster, founder and managing partner at Shuster Advisory Group, an investment consultant assisting with the search, could not be immediately reached for further information.
