Eastern Virginia Medical School, Norfolk, Va., is searching for an investment consultant for its three defined contribution plans, confirmed Steven Lee, director of materials management.
The search, for the school’s 401(a), 403(b) and 457 plans, is the result of the school’s policy of engaging in a competitive bidding process a minimum of every five to seven years, according to an RFP.
The school currently uses a “third-party consultant that assists with managing the MetLife fund lineup and provides some limited services in terms of evaluating the TIAA-CREF fund lineup,” Mr. Lee wrote in an e-mail. He would not provide the name of the consultant.
The plans have combined assets of $193 million.
Proposals are due at 4 p.m. EST on Feb. 8. The chosen consultant is scheduled to begin a three-year contract, with up to two one-year renewal options, on March 1.
The RFP is available on the school’s website.
A phone call to Matthew R. Schenk, director, human resources, was not returned by press time.