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Upcoming Procurement Data
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General Information
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Solicitation Title:
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Third Party Administrator
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Agency:
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State Employees' Retirement System
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Existing Contract Number:
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SERS 13-027
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Proposed Solicitation Date:
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03/15/2018
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Contract Expiration Date:
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06/30/2019
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Proposed Method of Procurement:
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Description:
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457(b) Plan
The Pennsylvania State Employees’ Retirement Board and its professional staff (“Board”) administers a deferred compensation plan in accordance with §457(b) of the Internal Revenue Code of 1986, as amended, and applicable regulations thereto (“457(b) Plan”), pursuant to and in accordance with Act of November 6, 1987, P.L. 394, No. 81 (amending Act of March 30, 2811, P.L. 145, No. 99), as amended, and any other applicable law. As of December 31, 2017, the 457(b) Plan had approximately $3.5 billion in assets with nearly 56 thousand participants, diversified across six core investment options, three model portfolios, one balanced fund, and a self-directed brokerage account.
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401(a) Plan
Pursuant to Act of June 12, 2017, P.L. 11, No. 5 (“Act 2017-5”), the State Employees’ Defined Contribution Plan was established, to be administered by the Pennsylvania State Employees’ Retirement Board and its professional staff (“Board”) in accordance with §401(a) of the Internal Revenue Code of 1986, as amended, and applicable regulations thereto (“401(a) Plan”). The Board shall be setting forth the terms and conditions of the 401(a) Plan in a plan document and trust declaration. The 401(a) Plan is required to be operational by January 1, 2019.
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Review Information
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Issuing Office:
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State Employees' Retirement System
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Contact Person:
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Dawn L Miller
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Contact Email:
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dawnmille@pa.gov
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