Texas Guaranteed Student Loan Corp., Round Rock, is searching for an investment consultant for a new 401(k) plan, said an RFQ on the corporation's procurement website.
It is anticipated the 401(k) plan will replace the corporation's existing 403(b) plan and money purchase plan, with $70 million in combined assets, by Jan. 1. The selected firm will have discretion over the selection of investment options.
“The combined balance of the TG 403(b) and (money purchase plan) is approximately $70 million and anticipated to continue increasing based on auto enroll and auto escalate features to be included in the TG 401(k) Plan. Overall, TG is seeking assistance in meeting fiduciary standards for selection and monitoring of the investments offered in our 401(k) plan,” the RFQ said.
The RFQ is available on the corporation's website.
Responses are due by 3 p.m. CDT on Sept. 28. A timeline for a hiring decision was not disclosed.
A spokeswoman and procurement officials and could not immediately be reached for further information