UMass looking for investment consultant for DC plans

University of Massachusetts, Amherst, is seeking an investment consultant for its eight defined contribution plans.

The eight plans — five 403(b) plans and three 401(a) plans — have a combined $876 million in assets. Fidelity Investments and TIAA-CREF are the providers for the various plans.

The search is being conducted because the university’s contract with its current consultant, Cammack Retirement Group, is due to expire soon, said Matthew Wamback, human resources operations manager at UMass. Cammack is invited to rebid.

Minority- and woman-owned business enterprises are strongly encouraged to submit proposals.

The RFP is available on the university’s procurement website. Registration is required. Proposals are due 2 p.m. EDT April 7. A selection is expected in mid-May.