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ADMINISTRATION has floated a tender for Notice Regarding Advisory Service Closure for State Retirement Plans. The project location is USA and the tender is closing on 16 Nov 2024. The tender notice number is , while the TOT Ref Number is 107284331. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.
Procurement Summary
Country : USA
Summary : Notice Regarding Advisory Service Closure for State Retirement Plans
Deadline : 16 Nov 2024
Other Information
Notice Type : Tender
TOT Ref.No.: 107284331
Document Ref. No. :
Competition : ICB
Financier : Self Financed
Purchaser Ownership : Public
Tender Value : Refer Document
Purchaser's Detail
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Login to see detailsTender Details
Tender are invited for Notice Regarding Advisory Service Closure for State Retirement Plans
Department: Administration
Category: Public Notices
Sub-Category:
Location(s): Statewide
Project/Regulation #:
Publish Date: 9/16/2024
Archive Date: 11/16/2024
Events/Deadlines:
Tender are invited for Notice is hereby given that the Alaska Retirement Management Board (ARMB) has determined that it is in the best interest of the participants of the Public Employees- Defined Contribution Retirement System (PERS Tier IV), Teachers- Defined Contribution Retirement System (Tier III), Alaska Supplemental Benefits Annuity System and the Alaska Public Employees Deferred Compensation Plan to discontinue all advisory services currently available in the plans effective November 15, 2024. The Division of Retirement and Benefits, Department of Administration has complied with the ARMB decision.The advisory services are provided by Empower Retirement and Morningstar Inc. under the “My Total Retirement” product and include Managed Accounts (“Do-It-For-Me”), Advice (“Help-Me-Do-It) and financial advice provided during retirement readiness reviews with Empower representatives. As of November 16, 2024 all future contributions for active participants currently enrolled in Managed Accounts will be placed into an age-based Target Date Fund. Past contributions for active and retired employees will remain in the investments selected under Managed Accou...
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