Recording Keeping 457 Plans for City of Aurora - RFP

The City of Aurora, IL is issuing a recordkeeping RFP for its 457 plans. The City is looking for a partner that meets specific criteria, including an accountable and communicative single point of contact, an engaging participant website/app, and the ability to outsource 100% of administrative work. The City is also looking for creative, innovative, and cost-effective ways to communicate with participants. The selected proposer will be required to provide recordkeeping and administration services for the City's 457 plans. Key features of the proposal include: • An accountable, responsive, communicative single point of contact with the flexibility to deliver quick turnarounds • An engaging participant website/app with tools to help participants make sound decisions regarding their financial future and retirement • The City outsources 100% of administrative work (ex., hardships, loans, QDROs etc.) to the recordkeeper • Creative, innovative, and cost-effective ways to communicate with participants The proposal should include pricing tables, education needs, and information on advisor-managed accounts, among other things.