457 DEFERRED COMPENSATION PLAN & SUPPLEMENTAL LIFE INSURANCE
The Town of Rocky Mount, (Town) is accepting proposals from qualified firms to provide administration, recordkeeping, education, and investment management for the Town’s 457 Deferred Compensation Plan and Supplemental Life Insurance.
The Town strives to see that the plan offered through payroll deduction provides the best benefits to the Town’s employees. The successful firm will be the only outside firm, other than ICMA, allowed to participate through payroll deduction.
The Town currently offers a payroll deducted supplemental retirement plan to its employees. The plan offered qualifies as a 457 plan under IRS rules. VALIC provides the current plan which includes 56 participants with an estimated $1,400,000 invested and an annual contribution of $50,000.
Submission of Proposals
Please submit three (3) hard copies of your proposal to Timothy Bunch at the following address along with an electronically submitted proposal copy in PDF format. Electronic copies may be either emailed or included (on USB flash drive) with the hard copies. If submitted on a flash drive, be advised that the flash drive will not be returned.
Your proposal must be received by February 22, 2018, at the following address:
Timothy Bunch, Investment Services Analyst
919 East Main Street, Suite 1100
Richmond, VA 23219
Phone: (804) 648-0635