RFP 26-14-214404 ARRC 401K 457 Recordkeeping

The Alaska Railroad Corporation (ARRC) is seeking a qualified firm to provide retirement plan administration, record keeping, education, communications, investment-related, and other services for its 401(k) and 457(b) retirement plans. The selected firm will be responsible for providing these services to approximately 800 eligible employees. The contract period will be from January 1, 2027, to December 31, 2029, with the option to renew for up to eight additional one-year terms. The firm must have a minimum of five years of experience administering governmental Section 401(k) defined contribution and 457 deferred compensation plans and currently provide sole-provider administration to at least five Section 401(k) defined contribution retirement plans and five Section 457 deferred compensation plans with an asset size of at least $125 million in each. Some key features of the plans include: • No front-end charges and/or no back-end charges • No restrictions or penalties associated with any Plan-initiated or participant-initiated transfers or withdrawals • Accurate and full disclosure of all fund expense and revenue sharing arrangements associated with all funds being offered within the Plan • Ability to offer a self-directed brokerage option • Ability to transition and continue administration of existing Plan loans • Knowledge of and compliance with all applicable County, State of Alaska, and federal regulations regarding governmental retirement plans and investment options. Some key statistics about the plans include: • Total assets of approximately $161 million as of December 31, 2025 • 796 total participant accounts in the 401(k) plan and 82 total participant accounts in the 457(b) plan • 523 active accounts in the 401(k) plan and 63 active accounts in the 457(b) plan • Total deferrals of $5,421,132 in the 401(k) plan and $536,339 in the 457(b) plan The evaluation criteria for the proposals will include: • Strength, size, experience, and qualifications (10%) • Recordkeeping, data security, and custody (20%) • Participant services and communications (20%) • Plan sponsor services and support (20%) • Pricing and cost (30%) The ARRC reserves the right to reject any or all proposals and to negotiate services and cost with the highest-ranked firm.