Naples, Fla., hired Montgomery Retirement Plan Advisors as the first investment consultant for its four defined contribution plans, said Greg Givens, city grants and procurement administrator, in an e-mail.
The city issued an RFP in June for 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.
ICMA-RC, Nationwide Financial and VALIC are the current record keepers; the timing of an RFP has yet to be determined.
The three 401(a) plans and one 457 plan have combined assets of $19 million.
