New York City Deferred Compensation Plan, with $4.6 billion in assets, issued an RFP for a consultant to do quarterly performance ratings and benchmarking. Current consultant Arthur Andersen was invited to rebid. Proposals are due April 5; no timetable has been established for a decision, said Dean Weltman, counsel to the plan.
It also added a small-cap investment option comprising the Vanguard Small Cap Index Fund and three separate accounts: Ariel Capital, value; T. Rowe Price, growth; and Wellington, core. The option replaces the T. Rowe Price New Horizons Fund, which was the plans sole small-cap option. Consultant William M. Mercer will determine the weightings and change them quarterly as needed.