Awarded vendors
- Empower Retirement, LLC
Description
The City of Mesa issued a competitive Request for Proposals (RFP #2024046) seeking a single vendor to provide comprehensive administration and record‑keeping services for its municipal 457(b) and 401(a) deferred‑compensation plans serving fire department personnel. The scope includes plan‑sponsor functions, data migration, payroll integration, loan management, participant communication, education, and open‑architecture investment platform support, with stringent cyber‑security and compliance requirements. The contract is a five‑year fixed‑price requirements contract, with an optional two‑year renewal, and it was awarded to Empower Retirement, LLC.
• Required bundled solution: record‑keeping, plan‑sponsor services, transition, cybersecurity, participant education, and open‑architecture investment options.
• Minimum vendor qualifications: ≥10 years admin experience, ≥5 similar non‑ERISA plans with ≥$50 M assets, SSAE‑16/18 or SOC‑2 compliance, and ability to deliver four in‑person education days per year.
• Pricing: asset‑based fee plus per‑participant fee; two scenarios (with/without proprietary capital‑preservation product) must be submitted.