Indiana Deferred Compensation Plans, Indianapolis, is searching for two active domestic equity managers to run smidcap core and midcap value investment options for its 457 and 401(a) plans, which have combined assets of $1 billion.
Officials at the plans are considering replacing the current smidcap core option, which has $29 million, and the midcap value option, with $16 million, according to the RFP. Small-cap core managers will be considered for the smidcap core option.
The IronBridge SMID fund and Perkins Investment Management Midcap Value fund are the current options. Tiffany Spudich, director of client relations at Capital Cities, the plans’ investment consultant, said plan officials are “surveying the marketplace, and no decision has been made at this time to replace these managers.”
The RFP is on state Auditor Suzanne Crouch’s website. Proposals are due at noon EDT April 4. A selection date was not scheduled.
The two plans have the same 24 investment options, which include 10 custom target-date options, Ms. Spudich said.
Great-West Life is record keeper for the plans.
