California State University System, Long Beach, is searching for an investment consultant for its 403(b) plan, confirmed Melody Kojima, assistant director of purchasing.
Mercer is the current consultant for the $942 million plan and can rebid. The RFP was issued to assist the plan's investment committee and help meet fiduciary responsibilities, according to the document.
The current providers are VALIC, TIAA-CREF, Fidelity Investments, MetLife and ING U.S. Retirement Services. There are 90 investment options, but the CSU is expected to re-evaluate the lineup and potentially reduce the number of options.
The RFP is available on procurement website PlanetBids. Proposals are due at 11 a.m. PST Jan. 24. Finalist interviews are scheduled for Feb. 24 with a hiring decision expected in mid-March.
