457 Recordkeeper

The City of Lawrence, Kansas, is seeking proposals from qualified vendors to provide recordkeeping services for its 457(b) and 401(a) retirement plans. As of July 24, 2025, the 457(b) plan includes 655 participants and holds assets totaling $57.6 million. This Request for Proposal (RFP) aims to identify a vendor capable of managing these plans effectively. Objective The purpose of this Request for Proposal (RFP) is to select a qualified service provider with proven experience administering public-sector retirement plans. The vendor should ensure full regulatory compliance, deliver an enhanced participant experience, and drive operational efficiencies in plan administration consistent with public-sector standards and fiduciary responsibilities. The selected recordkeeper will be responsible for day-to-day plan administration, including participant enrollment, contribution processing, investment options administration, distributions, loan management, and comprehensive reporting. Proposers should also demonstrate robust cybersecurity measures, transparent fee structures, and a user-friendly digital platform for both participants and plan administrators.