Austin (Texas) Deferred Compensation Plan is searching for an investment consultant for its $308 million plan, confirmed Jeff Dilbert, purchasing manager for the city.
The city does not currently have a consultant and issued an RFQ to gain more expertise in administering the plan, Mr. Dilbert said in a telephone interview.
The 457 plan has 23 investment options. ING Institutional Plan Services is the record keeper.
The RFQ is available on the city's website. Proposals are due at 2 p.m. CDT March 15. A hiring decision is expected by April 1.