Kentucky Public Employees' Deferred Compensation Authority, Frankfort, hired Mercer as strategic planning consultant for its 457 and 401(k) plans, confirmed Chris Helvey, assistant to Robert Brown, executive director.
It's the first such hire for the plans, which have a combined $1.8 billion in assets.
Mercer will review the entire operation of the plans, including looking at record-keeping services, investigating the possibility of outsourcing and looking into implementing new programs such as investment advice, Mr. Helvey said in a telephone interview.
“Mercer will help the authority create a vision of where we want to be in 10 years and then help implement it,” Mr. Helvey said.
The plans issued an RFP in January.
Separately, the fund issued an RFP for an external auditor, Mr. Helvey confirmed. Incumbent Blue & Co. is invited to rebid.
The RFP is on commonwealth of Kentucky's website.
Proposals are due by 4 p.m. EDT April 30. A hiring decision is expected on May 23.
