Phoenix Employees’ Deferred Compensation Board is searching for a stable value fund manager for the two defined contribution plans it oversees, said Kathy Schelbrock, senior human resources analyst for the city.
The city is conducting the search due to its regulation that services must be put out to bid at least once every five years. Current manager Morley Capital Management is invited to rebid.
The board oversees the city's $1 billion 457 plan and $258 million 401(a) plan. Stable value assets total $321 million for the 457 plan and $89 million for the 401(a) plan.
The RFP is available on the city’s website. Proposals are due at 3 p.m. MST on May 5. Finalist interviews are tentatively scheduled for the week of July 28, with a decision expected by Aug. 7.
