Peoria, Ariz., chooses first investment consultant for 457 plan

Peoria, Ariz., hired Hyas Group as the first investment consultant for its $60 million 457 plan, according to a posting on the city's procurement website.

The city issued an RFP in December for a firm to provide 457 plan and investment consulting services, and also assist in developing a deferred compensation committee, as well as an investment policy, neither of which the city currently employs.

The plan's record keepers are ICMA-RC and Nationwide Financial.

Finalist information could not be immediately learned.

Lisa Houg, contract officer in the city's procurement department, was not available to provide further information by press time.