Naples, Fla., is searching for its first investment consultant for its four defined contribution plans, said Greg Givens, city grants and procurement administrator, in an e-mail.
The city is seeking a consultant to assist the city in creating an investment policy statement, conduct ongoing investment monitoring and eventually assist in creating a request for proposals for one or more record keepers.
The current record keepers are ICMA-RC, Nationwide Financial and VALIC. Mr. Givens said the timing and scope of that search will be decided by the investment consultant.
The RFP is available on the city's website. Proposals are due at 5 p.m. EDT on July 10. The city hopes to make a decision that same month, Mr. Givens said.
The three 401(a) plans and one 457 plan have combined assets of $19 million.
