California State University System, Long Beach, named five finalists in its search for an investment consultant for its 403(b) plan, confirmed Melody Kojima, assistant director of purchasing.
Buck Global Investment Advisors, Callan Associates, Cammack Retirement Group, CAPTRUST Financial Advisors and Hewitt EnnisKnupp were named finalists. Incumbent Mercer rebid but did not make the list, Ms. Kojima said.
The current providers for the $942 million plan are VALIC, TIAA-CREF, Fidelity Investments, MetLife and ING U.S. Retirement Services. There are 90 investment options, but CSU is expected to re-evaluate the lineup and potentially reduce the number of options.
A hiring decision is expected in mid-March.