Burbank, Calif., is searching for an investment consultant for its 457(b) deferred compensation plan, confirmed Carrie Matson, deputy financial services director.
Incumbent Aon Hewitt is invited to rebid. The city tries to issue RFPs every four years as part of its due diligence, Ms. Matson said in a telephone interview. The contract is for three years and can be extended by mutual consent.
The 457 plan has about $112 million in assets. ICMA-RC is the current provider.
The RFP is available on a procurement website used by the city. Proposals are due March 1. Finalist presentations and a hiring decision are expected on April 3.
