Arvada, Colo., plans to look for new investment managers and record keepers for the citys four retirement plans later this year. The city now is looking for a consultant to assist in the future searches, confirmed Finance Director Victoria Runkle. The city oversees the $80 million City of Arvada Retirement Plan, the $40 million Police Money Purchase Plan, an $11 million 457 deferred compensation plan, and a $3 million 401(a) program for city executives, Ms. Runkle said.
Fidelity Institutional Retirement Services is bundled provider for the city employees and police plans, and ICMA is the incumbent for the 401(a) and 457 plans. Both firms can rebid.