Hawaii Deferred Compensation Fund, Honolulu, intends to hire Segal Rogerscasey as investment consultant, pending successful negotiation and execution of a contract, said an award notice on the state procurement’s website.
An RFP was issued in December due to the June 30 contract expiration of incumbent consultant Mercer. It could not be learned whether Mercer rebid.
The 457 plan has about $1.9 billion in assets and offers 16 stand-alone investment options in addition to a series of target-date funds and a brokerage window.
Cynthia Akiyoshi, personnel management specialist for benefits administration in Hawaii's Department of Human Resources Development, declined to comment because a contract has not yet been executed.