Utah County, Provo, is searching for a firm to provide plan administration, record keeping and participant education services for its 401(k) and 457 plans, which have a total of $205 million in assets.
The search is being conducted because their current service provider, Prudential Retirement Insurance and Annuity Co., is being bought out by Empower Retirement. “Rather than automatically go with the new company by default, Utah County decided to put it out to RFP,” said Robert Baxter, Utah County purchasing manager, in an email.
Prudential/Empower is welcome to rebid.
A copy of the RFP is available by contacting Mr. Baxter via email. Proposals are due by noon MDT Sept. 30. Mr. Baxter said he anticipates a selection to be made in late-October or early-November.