Metra, Chicago, is considering ICMA-RC as bundled provider of its $29.2 million 457 deferred compensation plan, confirmed spokesman Michael Gillis.
The board of directors of Metra, metropolitan Chicago's commuter rail system, will vote Friday on the recommendation by its human resources department to hire the firm over incumbent Hartford and MetLife, the other finalists.
“ICMA-RC provided a robust financial fund platform and recommended several significant fund lineup changes that have the potential of generating savings to participants' ongoing fees,” CEO Alex Clifford wrote in a memo to the board recommending the hire.
An RFP was issued in November.
