Searches and Hires

Newport Beach sticks with Benefit Financial Services as investment consultant

Newport Beach, Calif., rehired Benefit Financial Services Group as investment consultant for its $94 million 457 plan, said an award notice on the PlanetBids procurement website.

The city issued an RFP in October because Benefit Financial's contract was set to expire at the end of December. No other finalists were named. The plan's record keeper is Empower Retirement.

Benefit Financial Services Group was also rehired to advise the city's $25 million retiree health savings plan; ICMA-RC is the record keeper of that plan.

Anthony Nguyen, city purchasing agent, could not be immediately reached to provide further information.