Austin, Texas, seeks consultant for deferred compensation plan

Austin, Texas, is searching for a consultant for its deferred compensation plan, a purchasing official said.

The selected firm will assist with the city's search for its next record keeper for the 457 plan and will provide, as needed, investment and general consulting services.

The deferred compensation plan, which has more than $400 million in assets, does not have a consultant now.

The contract of current record keeper Empower Retirement expires in four years. The record keeper RFP is expected to be issued around that time.

The consulting RFP is available on the city's website. Registration is required. Proposals are due by 2 p.m. CDT on May 30. A hiring decision could be made in late summer.