RFP AWARD RECOMMENDATION
CITY OF RIVERSIDE
Finance Department
DATE SUBMITTED: 01/13/2026
RFP NO.
2480
RFP TITLE
457(b) DEFERRED COMPENSATION & 401(a) DEFINED
CONTRIBUTION PLAN SERVICES
DEPARTMENT/DIVISION
Human Resources
DATE RFP OPENED
08/21/2025
PROPOSALS RECEIVED (5) INVITATIONS ISSUED (Online)
RFP PRICE GOOD THROUGH: Friday, December 19, 2025
(per RFP, company will honor negotiated pricing outlined in Agreement prepared 11/20/25)
PROPOSERS CITY, STATE EVALUATION RANKING
MissionSquare Washington, DC 1
Empower Retirement LLC (Empower) Greenwood Village, CO 2 Voya Financial Windsor, CT 3
Corebridge Financial Houston, TX 4
RFP DESCRIPTION: The project consists of a company to provide comprehensive plan administration, record keeping, enrollment, education services, trustee and asset custodial services for the City’s 457(b) Deferred Compensation and 401(a) Defined Contribution Plans.
RFP Recommended For Award (Includes Sales Tax) 10% Surety Included Contract 10% Surety not required Purchase Order
Best Ranking Proposer Amount of Award
MissionSquare N/A
COMMENTS:
The Human Resources Department has evaluated all proposals received and is requesting that award be made to the best overall solution based on the evaluation process. The Purchasing Division concurs that the action to award is in compliance with Purchasing Resolution 24101.
Submitted by: Purchasing Manager Date:
12/16/2025