Philadelphia School District is searching for an investment consultant for its defined contribution plans, according to an RFP posted on its website.
The school district oversees two 403(b) plans and a 457(b) deferred compensation plan. The plans have five providers — AXA Equitable, Lincoln Investment Planning, MetLife, TIAA-CREF and VALIC. The asset sizes could not be learned by press time. About 7,500 employees contribute to the 403(b) plans and 500 to the 457(b) plan.
The selected firm will evaluate performance, review financial reports, assist in developing an investment menu and evaluate investment alternatives from plan providers, according to the RFP.
The RFP is available on the school district's website. Proposals are due at 11 a.m. EDT Oct. 29. A hiring decision is anticipated on Dec. 19.
Kelly Earl, buyer in the procurement office, could not provide further information by press time. The retirement office referred questions to spokesman Fernando Gallard, who could not be reached by press time.