Request for Record Keeper to Consolidate & Administer 457 (b) plan as single provider

The City of Quincy, Illinois, is seeking sealed competitive proposals from qualified providers to serve as the sole recordkeeper for their 457(b) retirement plan. The contract aims to consolidate and administer the plan through a single provider, with proposals due by September 12, 2024. Interested parties can access the Request for Proposal (RFP) packets online and may direct inquiries to the city's Purchasing Department. The city retains the right to reject any or all proposals and to waive technicalities, prioritizing the most advantageous offer for the city’s needs. As an equal opportunity employer, the City of Quincy encourages participation from minority groups in the bidding process. The contract value is estimated to range between $500,000 and $2,000,000, reflecting the scope of services required for plan administration. The solicitation emphasizes the city’s commitment to fair competition and transparency, with the final selection based on the proposal that best meets the city’s criteria for quality, cost, and service. The process underscores the city’s intent to streamline retirement plan management by selecting a single provider capable of efficiently handling plan recordkeeping and administration functions.