Newport Beach, Calif., is searching for an investment consultant for its $94 million 457 plan, said Anthony Nguyen, city purchasing agent, in an email.
The city issued an RFP because the contract of current consultant Benefit Financial Services Group is expiring at the end of 2017, Mr. Nguyen said. The firm is invited to rebid. The plan's record keeper is Empower Retirement.
The selected consultant would also advise the city's $25 million retiree health savings plan; ICMA-RC is the record keeper of that plan.
Proposals are due at 1 p.m. PST on Nov. 21. A decision is expected in December.
The RFP is available on the Planet Bids website. Registration is required.
