Retirement Services - 457 Deferred Compensation Plan

Snohomish County issued an RFP to procure administration services for its 457 Deferred Compensation Plan, a retirement savings vehicle for county employees. The solicitation invited proposals from qualified vendors, with submission options for hard‑copy or electronically signed bids. After evaluation, the contract was awarded to Nationwide Retirement Solutions, Inc. on January 1 2021. The award appears to be a lump‑sum arrangement, though the specific contract term and dollar value were not disclosed publicly. This contract covers plan administration, participant record‑keeping, compliance reporting, and related fiduciary services for the County’s retirement program. • Scope: Full administration of a 457 Deferred Compensation Plan (record‑keeping, compliance, participant services). • Procurement: Open competition RFP (full and open competition). • Award: Single‑vendor lump‑sum award to Nationwide Retirement Solutions, Inc. • Key dates: RFP released 9/21/2020, bid deadline 10/9/2020, award 1/1/2021.