Township also rehires Gregory J. Schwartz & Co. as consultant for 2 DC plans
Charter Township of Bloomfield (Mich.) selected AndCo Consulting as the investment consultant for the $75 million combined equity portfolio of the township's $215 million defined benefit plan and $10 million voluntary employees beneficiary association, said Brian E. Kepes, township treasurer.
Prudential Financial continues to advise on the $160 million stable value portfolio of the defined benefit plan.
AndCo replaces Gregory J. Schwartz & Co. for the defined benefit plan/VEBA portfolio assignment. However, Mr. Kepes said Gregory J. Schwartz & Co. was rehired as the consultant for the municipality's $21 million 457 plan and $5 million 401(k) plan.