Federal Thrift Savings Plan selects 4 investment consultants

Federal Retirement Thrift Investment Board, Washington, announced Tuesday it awarded investment consulting contracts to Aon Hewitt Investment Consulting, Mercer, NEPC and RVK.

The new contracts replace two separate contracts currently held by Aon Hewitt and Mercer. The board oversees the Federal Thrift Savings Plan, which as of May 31 had $469.9 billion in assets.

The indefinite delivery/indefinite quantity investment consultant contracts for the four firms could last up to five years, based on services that will include investment policy evaluation and design; portfolio governance and portfolio manager evaluation; investment option review and evaluation; investment manager search; benchmarking and participant behavior; research on improving operation efficiency; and lifecycle fund asset allocation and glide path analysis, according to a FRTIB release.

Kim Weaver, director of external affairs for the Federal Retirement Thrift Investment Board, could not be reached by press time for further information.