457 Recordkeeper

The City of Lawrence, Kansas, is issuing a solicitation to select a qualified recordkeeping vendor for its 457(b) and 401(a) retirement plans, with a focus on effective administration, regulatory compliance, and enhanced participant experience. The current 457(b) plan, as of July 24, 2025, services 655 participants and manages assets totaling $57.6 million. The contract aims to establish a partnership with a provider capable of handling daily plan operations such as participant enrollment, contribution processing, investment management, distributions, loans, and comprehensive reporting. The selected vendor must demonstrate robust cybersecurity measures, transparent fee structures, and a user-friendly digital platform for both participants and administrators, ensuring operational efficiencies aligned with public-sector standards and fiduciary responsibilities. The procurement process is structured as a formal solicitation with a response deadline of September 9, 2025. The contract size is estimated between $500,000 and $1.5 million, with the vendor required to meet specific experience and capability criteria. The primary point of contact for this RFP is Lisa Pence, reachable via email or phone. This initiative underscores the city's commitment to maintaining high standards in public-sector retirement plan administration, emphasizing transparency, security, and participant engagement. The procurement process is managed through an online portal, providing detailed instructions for proposal submission and evaluation.