Administrator/Record Keeper
The deferred compensation plan last conducted a search for the services in 2018.
The firm will provide pension administration and investment management services for the authority’s $5.2 million Money Purchase Pension Plan.
The city is considering consolidating its two deferred compensations plans into a single one.
The city is seeking the services on behalf of its $8 million 457 deferred compensation plan.
The plan launched a search last year to consolidate to a single record keeper from its previous three.
The 457(b) and 401(a) plans are in the market for record keeping/administration, communication/education and custodial trustee services.
The city last conducted a similar search for its retirement plans in 2017.
The plans terminated their mandate with domestic core-plus fixed-income manager Western Asset Management and hired a new record keeper in the fourth quarter.