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Pasadena board backs rehiring Hyas as 457 plan consultant

Pasadena (Calif.) Deferred Compensation Board likely will recommend rehiring Hyas Group as investment consultant of the city's $250 million 457 plan, said Matthew Hawkesworth, city finance director, in an email.

The city issued an RFP in February because it had been more than five years since the services had last been put up for bid.

On April 4, a group consisting of the majority of the board recommended rehiring Hyas Group following finalist presentations; a vote by the full board is expected on May 2. The City Council will vote on final approval in late May or early June, Mr. Hawkesworth said.

The other finalist was NFP Retirement.