Port of Seattle on voyage to find DC consultant
By Rob Kozlowski | November 8, 2012 3:13 pm
Port of Seattle is searching for one investment consultant for its 457 and 401(a) plans, confirmed Brian Knight, senior manager, service agreements.
An RFQ has been issued because the contract of current consultant Mercer is expiring on Dec. 31. The firm is eligible to rebid.
The plans are the $103 million Port of Seattle 457 Deferred Compensation Plan, $13 million Port of Seattle 401(a) Supplemental Plan for Salaried Employees, $9 million Port of Seattle Fire Fighters' 401(a) Retirement Plan and Trust, $8 million Port of Seattle Police 401(a) Retirement Plan and Trust and the 401(a) Qualified Port Executive Plan and Trust, for which assets were not available.
The RFP can be found at the Port of Seattle's website. Proposals are due on Nov. 29. Finalist interviews are scheduled for Dec. 14 and Dec. 17, with a decision expected on Dec. 21 and a start date for a three-year contract with two optional one-year extensions of Jan. 1.
ICMA-RC is the plans' record keeper.