Salt Lake City, Utah, is searching for a consultant for its 457 and 401(a) plans with $33.3 million in assets combined, said procurement specialist Jerilyn Midthun.
The selected firm will provide investment advisory, participant and ongoing fiduciary consulting, among other services.
It is also expected that the selected firm will assist the city with a future search for one or more record keepers.
The consultant search is being conducted due to the upcoming contract expiration of incumbent consultant FirstWest Benefit Solutions, which is invited to rebid.
The reason for the record—keeper search and information on a timeline could not immediately be learned. The incumbent 457 record keepers are Empower Retirement, ICMA, Nationwide Retirement Solutions and Voya Retirement Services. The incumbent 401(a) record keeper is ICMA.
The consultant RFP is available on BidSync. Registration is required.
Proposals are due by 3 p.m. MDT on May 5. A hiring decision could be made in the next three months.
A human resources official could not immediately be reached for additional information.