Retirement Plan Administration and Record Keeping Services
| Location: | California |
|---|---|
| Posted: | May 13, 2026 |
| Due: | Jun 5, 2026 |
| Agency: | City of Elk Grove |
| Type of Government: | State & Local |
| Category: |
|
| Publication URL: | To access bid details, please log in. |
| Type | Name | Due Date | Notice | Details | Posted | ||
| RFP | Retirement Plan Administration and Record Keeping Services | 06/05/26 |
|
Finance | 05/06/26 | Active |
Attachment Preview
City of Elk Grove
401(a) Defined Contribution Plan, 457(b) Deferred Compensation Plan,
Retirement Health Savings Plan, and Employer Investment Program
Request for Proposals for
Retirement Plan Administration and Record Keeping Services
RFP DISTRIBUTION DATE: May 6, 2026
DUE DATE FOR QUESTIONS: May 19, 2026 at 5:00 p.m. Pacific Time
DUE DATE FOR RESPONSE SUBMISSION: June 5, 2026 at 5:00 p.m. Pacific Time
I. OVERVIEW
The City of Elk Grove, California (“City” or “Plan Sponsor”) is soliciting proposals from qualified
firms (“Proposing Firm(s)” or “Firm(s)”) to provide retirement plan administration, record keeping,
education, communications, investment-related, and other services for the 401(a) plan, 457(b)
plan, Retirement Health Savings (“RHS”) plan, and Employer Investment Program (“EIP) (“Plan” or
“Plans”). The primary goals for this Request for Proposal (“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;
Providing robust on-line transaction and information capabilities;
Providing support for as many administrative functions as deemed appropriate;
Evaluating alternative pricing structures;
Reducing participant and Plan expenses;
Providing for an orderly and timely transition of assets and services if necessary; and
Continuing the formal record keeper/City working relationship.
II. SCOPE OF SERVICES
The winning Proposing Firm will provide full-service retirement plan record keeping and
administrative services to Plan participants and the City. Such services include but are not limited
to:
Participant enrollment and the establishment of participant accounts for each employee
participating in the Plans.
Maintaining participant accounts and allocation of deferrals or other assets per
participant and/or the City’s direction.
Providing periodic reports related to the Plans and participants to both the City and
participants including regular reports on participant education scheduling and any results.
Maintaining a dedicated call center and website for both the City and participants.
Staff at least one local participant representative for in-person individual and group
education. It is expected that a record keeper representative will visit each of the City’s
selected facilities as part of the Proposing Firm’s initial and ongoing participant education
efforts.
Maintaining other relevant records, such as beneficiary designation(s).
Record keeper representatives are expected to attend quarterly Plan review meetings.
III.PLAN INFORMATION
The City is a public agency with approximately 500 benefit-eligible employees (approximately 460
full-time and 40 part-time). Employees are paid every two weeks through one centralized payroll
system for a total of 26 pay periods annually. The City uses the Finance Enterprise payroll system.
Eligible City employees also participate in a defined benefit program offered and administered by
California Public Employees’ Retirement System (CalPERS). There are 8 separate City locations
located throughout the City (see table below), and, in terms of employee outreach, it would be
expected that a record keeper representative visit each of these worksites as part of their initial and
ongoing participant education efforts. This last point is important to the City and participants as
1
local on-site participant representative delivering education and other services in-person and are
highly-valued.
Location
City Hall (8401 Laguna Palms Way)
Police Department (8380 Laguna Palms Way)
Police Department (8400 Laguna Palms Way)
Police Department (9632 Studio Court)
Corporate Yard (10250 Iron Rock Way)
Animal Services (9150 Union Park Way)
Special Waste Collection Center (9255 Disposal Lane)
The Center at District56 (8230 Civic Center Drive)
Employees
192
56
89
9
48
36
5
3
The City currently uses MissionSquare Retirement (“MissionSquare”) to provide basic
administration, enrollment, participant communication and education, investment management
and record keeping services for the Plans and its participants. As of December 31, 2025, there was
approximately $130 million in the Plans (approximately $27 million in the 401(a) plan, $66 million
in the 457 plan, $28 million in the RHS plan, and $6 million in the EIP). Any contributions made by
the City and/or participants are included in the figures below under “Total Deferrals.” Below are five
tables; one for each plan with data as of December 31, 2025. Note that “Active Accounts” means
contributing within the last month.
2
457(b) Plan
Total Assets ($)
Total Participant Accounts (#)
Total Active Accounts (#)
Total Deferrals ($)
Total Roll-Ins (#)
Total Roll-Ins ($)
Total Contributions ($)
Total Accounts in Systematic
Distribution (#)
Total Systematic Distributions
($)
Total Accounts with Lump Sum
Distributions (#)
Total Lump Sum Distributions
($)
Total Annuity Purchases (#)
Total Annuity Purchases ($)
Total Transfers to Proprietary
IRAs (#)
Total Transfers to Proprietary
IRAs ($)
Total Roll-Outs (#)
Total Roll-Outs ($)
Total Distributions (#)
Total Distributions ($)
Total Hardship Withdrawals
Requested (#)
Total Hardship Withdrawals
Requested ($)
Total Hardship Withdrawals
Approved (#)
Total Hardship Withdrawals
Approved ($)
2025
$65,964,316
643
408
$3,720,583
4
$682,781
$4,403,365
74
$142,925
129
$2,132,370
N/A
N/A
0
$0
6
$156,832
203
$2,275,294
-
-
1
$33,000
2024
$55,484,447
614
383
$3,423,494
2
$253,932
$3,677,426
53
$128,206
130
$4,168,189
N/A
N/A
0
$0
12
$2,369,281
183
$4,296,395
-
-
$0
2023
$49,461,102
576
366
$3,177,056
6
$283,086
$3,460,143
44
$103,243
114
$2,437,953
N/A
N/A
0
$0
1
$67,726
158
$2,541,197
-
-
$0
2022
$41,588,637
527
324
$2,785,409
7
$170,935
$2,956,343
30
$85,770
47
$822,718
N/A
N/A
0
$0
8
$899,366
77
$908,489
-
-
$0
3
401(a) #1
Total Assets ($)
Total Participant Accounts (#)
Total Active Accounts (#)
Total Deferrals ($)
Total Roll-Ins (#)
Total Roll-Ins ($)
Total Contributions ($)
Total Accounts in Systematic
Distribution (#)
Total Systematic Distributions
($)
Total Accounts with Lump
Sum Distributions (#)
Total Lump Sum Distributions
($)
Total Annuity Purchases (#)
Total Annuity Purchases ($)
Total Transfers to Proprietary
IRAs (#)
Total Transfers to Proprietary
IRAs ($)
Total Roll-Outs (#)
Total Roll-Outs ($)
Total Distributions (#)
Total Distributions ($)
Total Hardship Withdrawals
Requested (#)
Total Hardship Withdrawals
Requested ($)
Total Hardship Withdrawals
Approved (#)
Total Hardship Withdrawals
Approved ($)
2025
$26,921,867
620
407
$1,647,533
1
$183
$1,647,716
14
$10,109
47
$1,453,824
N/A
N/A
0
$0
6
$848,964
61
$1,463,933
0
$0
0
$0
2024
$23,414,015
582
382
$1,508,258
0
$0
$1,508,258
13
$12,206
42
$731,189
N/A
N/A
0
$0
13
$527,167
55
$743,394
0
$0
0
$0
2023
$19,907,076
543
363
$1,378,155
1
$10,224
$1,388,380
13
$12,203
39
$482,097
N/A
N/A
0
$0
6
$214,429
52
$494,300
0
$0
0
$0
2022
$16,211,327
488
323
$1,137,550
2
$110,952
$1,248,502
15
$14,083
6
$168,845
N/A
N/A
0
$0
1
$6,000
21
$182,929
0
$0
0
$0
4
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