Kent District Library, Comstock Park, Mich., is searching for an additional investment manager for its 401(a) and 457 plans, which total $4.5 million.
Sherry Bava, finance director, confirmed the search in an interview, but said she couldn't provide specific information, such as the previous investment manager and the number of investment options offered, beyond what is included in the RFP on the library's website.
In an addendum to the RFP, Nationwide is identified as the current solo provider of investment options for the plans. Waddell & Reed Financial Advisors advises plan officials and will remain in that position, the document said.
The RFP is due on April 19 by 2 p.m. EDT. Ms. Bava said a manager selection is likely at the library board's meeting on June 20.