San Jose, Calif., is searching for an investment consultant for its four defined contribution plans, confirmed Emily Hendon, senior analyst in the city's human resources department.
The selected firm could also be asked to provide consulting services for the city's health and welfare plans and actuarial services for a dental plan. More than one firm could be hired.
Incumbent Buck Consultants is invited to rebid. Its contract expires Dec. 31.
The city administers two 457 plans with a combined $684 million in assets and two 401(a) plans with $4.6 million in assets. ING U.S. Retirement Services is the bundled provider for all four plans.
The RFP is available on procurement website BidSync. Proposals are due at 5 p.m. PDT June 21. Finalist interviews will take place Aug. 28, with a hiring decision before the end of the year.
