New York State Deferred Compensation Plan, Albany, is searching for a provider of a target-date fund series and for providers of two balanced funds.
The searches are routine, David Fischer, executive director of the $18.6 billion plan, said in an e-mail. The three current contracts expire March 31, 2017.
The new contracts, each of which can run up to 10 years, take effect April 1, 2017. Current providers are invited to rebid.
The New York plan offers a target-date series from T. Rowe Price, which accounted for $1.2 billion, or 6.4% of plan assets, as of Dec. 31.
The balanced funds are the Vanguard Wellington Fund, which had $1 billion, or 5.5% of plan assets, and Pax World Balanced Fund, which had $85 million, or 0.5% of total plan assets, as of Dec. 31.
Investment consultant Callan Associates is assisting. Details are available on Callan’s website.
Proposals are due April 29; winning candidates will be notified by late September or early October.