457 Plan Provider and Administrative Services

The City of Killeen is seeking a provider to administer its 457 Deferred Compensation Plan. The selected proposer will be responsible for providing plan options and administering those plan options to the employees of the City of Killeen. The proposer must demonstrate the ability to meet or exceed the City's service requirements, including compliance with all applicable federal and state regulatory requirements, secure and accurate recordkeeping, reporting, and participant account management, and delivery of high-quality customer service to both City staff and participating employees. Some key points to consider include: • Effective communication and confidentiality • Ability to provide 457 plan options and administer those plan options • Experience administering 457 Deferred Compensation Plans, particularly for public sector or municipal clients • Ability to provide participant education, enrollment assistance, and ongoing customer service • Ability to provide regular reporting to the City, including participant account summaries, compliance reports, and performance metrics • Ability to ensure the plan remains compliant with all regulatory requirements and update plan provisions as needed • Ability to provide excellent service levels to participants and the City, fully utilizing automated administration functions when available