457(b) Deferred Compensation and 401(a) Defined Contribution Plans Request for Proposals for Retirement Plan Administration and Record Keeping Services

The City of Pasadena, California (hereinafter “City” or “Plan Sponsor”) is soliciting proposals from qualified firms (hereinafter “Proposing Firm(s)” or “Firm(s)”) to provide retirement plan administration, record keeping, education, communications, investment-related, and other services for the 457(b) Deferred Compensation and 401(a) Defined Contribution Plans (hereinafter “Plans”). The primary goals for this Request for Proposal (hereinafter “RFP”) process include the following: Enhancing participant retirement outcomes; Analyzing the overall competitiveness of the Plans; Providing for the integrated administration and reporting for the Plans; Improving participant education and communication services; Enhancing the formal education for the Deferred Compensation Committee (hereinafter “Committee”); Providing robust on-line transaction and information capabilities; Providing support for as many administrative functions as deemed appropriate; Reducing participant and Plan expenses; Providing for an orderly and timely transition of assets and services if necessary; and Continuing the formal record keeper/Committee working relationship. The Deferred Compensation Oversight Committee – which consists of five members: three members elected by City employees and two appointed by the Pasadena City Council – carries out the fiduciary duties and has sole discretionary authority over the administration of the retirement program. All RFP responses received in good order will be reviewed by Hyas Group, LLC (hereafter “City’s Consultant”) and the Committee.