Coral Springs casts net for first investment consultant for DC plans

Coral Springs, Fla., is searching for its first investment consultant for its $75 million 401(a) plan and $36 million 457 plan, said Angelo Salomone, purchasing administrator.

The city is seeking a consultant to perform periodic benchmarking, advise on investment options and lineup changes, as well as monitor fund performance and assist in any future RFPs for a record keeper, the RFP said.

The current record keeper for both plans is ICMA-RC.

The RFP is available on the city’s procurement website. Proposals are due at 2 p.m. EDT on April 5. Mr. Salomone said he hopes to have a consultant in place within two to three months after the due date.