457(b) Deferred Compensation Plan Services
Overview
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SUMMARY
DESCRIPTION
A government authority located in Olmito, Texas is seeking a vendor to provide 457(b) deferred compensation plan services. The scope includes recordkeeping and administration for a governmental 457(b) plan, with preference for firms experienced in serving Texas public entities or municipally owned utilities of comparable size.
Required services include full-service daily valuation recordkeeping for participant accounts, including contributions, investment earnings, gains and losses, and distributions. The selected vendor will also process rollovers from other qualified retirement plans, handle lump-sum sick and vacation payouts at employee separation, maintain beneficiary designations with online update capability, and provide 1099-R reporting and IRS submission on behalf of participants.
The vendor is also expected to deliver quarterly and annual plan-level financial reporting, maintain a complete audit trail for all account transactions, and provide ongoing monitoring of regulatory changes affecting governmental 457(b) plans. Proactive notification of relevant regulatory developments to the authority’s fiduciary consultant is required. All questions must be submitted no later than August 5, 2026.
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Frequently asked questions
- When is the submission deadline?
- Submissions are due August 5, 2026.
- Who is a good fit for this opportunity?
- Retirement plan administrator specializing in governmental 457(b) plans
- Experience serving Texas public entities or municipally owned utilities
- Strong daily valuation recordkeeping and participant account administration capabilities
- Ability to manage IRS reporting, rollovers, distributions, and separation payouts
- Established compliance team with expertise in public-sector retirement regulations
- Proven financial reporting and audit trail management experience
Analysis generated by Settle AI from the source RFP.
RFP Hunter shows what is open. Settle shows what is forming.
Settle pieces together buyer signals, budgets, contract activity, and the sources your team already monitors. See why an opportunity fits and what to do before the RFP posts.