Milwaukee County Deferred Compensation Plan intends to issue an RFP on July 25 for an investment consultant.
Aon Hewitt Investment Consulting is the incumbent for the $323 million plan.
“We would welcome a rebid by Aon Hewitt,” said Steve Cady, chairman of the Milwaukee County select committee on deferred compensation, which is conducting the search.
The committee is issuing the RFP as part of its fiduciary duties to gauge the market for investment consulting services and offer firms an opportunity to compete for the assignment, Mr. Cady said, adding the committee conducted its last search five years ago.
Among the services the committee is seeking, “we would want the investment consultant … to recommend any fund changes that are warranted,” Mr. Cady said.
“We are comfortable with the investment lineup” the plan has now, Mr. Cady added.
The 457 plan offers 15 individual investment fund options, managed by nine money managers, and a series of target-date funds.
The RFP is scheduled to be posted on the county’s website.