Recordkeeper Provider to the City 401(1) and 457(a) Employee Retirement Plans

The City of Leesburg, Florida is soliciting proposals from qualified Retirement Plan Administrators to provide administration, recordkeeping, education, and investment management to the City's 401(1) and 457(a) Employee Retirement Plans. The selected provider will work with the Retirement Plan Committee and the City's third-party advisor to ensure that the plans are administered in an effective, responsible, and professional manner. The contract includes provisions for recordkeeping and administrative services, investment procedures, plan sponsor responsibilities, fees, and termination. The contract also includes exhibits that provide detailed information on the services to be provided, fees, and revenue received by MassMutual. • The contract is for the administration of the City's 401(1) and 457(a) Employee Retirement Plans. • The selected provider will provide recordkeeping and administrative services, including participant communication and education. • The contract includes provisions for investment procedures, including the selection of investment options and the management of plan assets. • The plan sponsor is responsible for providing instructions, information, and data to MassMutual, as well as for monitoring and collecting contributions and other amounts due to the plan. • The contract includes provisions for fees, including a per-participant fee and fees for investment management and administrative services. • The contract can be terminated by either party with written notice.