West Virginia State Teachers’ Defined Contribution Plan, Charleston, soon will search for a service provider to supply record keeping and other ancillary services, said Michael Atkins, acting director. The $300 million 403(b) plan has not issued RFPs or established a deadline for proposals. The plan has an unbundled pooled approach, investing in seven mutual funds and a GIC account. Milliman USA, the current record keeper, is eligible to bid. The plan also may drop an as-yet-undetermined investment option and add two new ones, for a total of 10; and it plans to move to daily valuation, from monthly.
Mercer Investment Consulting is assisting.
