Searches and Hires

Lansing Board of Water and Light seeks investment consultant for DC plans

Lansing (Mich.) Board of Water & Light is looking for an investment consultant for its $274 million defined contribution plans.

The DC plans consist of two 401(a) plans totaling $180 million, a $92 million 457(b) plan and a $2 million Roth IRA plan.

The chosen consultant "will make strategic recommendations to BWL management regarding DC retirement plans," the RFP said. The consultant's role will also "add value to BWL's existing retirement plans by evaluating/improving plan offerings to further ensure financial security in retirement for DC participants and beneficiaries."

The RFP is available on the board's website. Proposals are due by 2 p.m. EST on Feb. 28. A timetable for a decision was not provided.

ICMA-RC is the administrator of the plans.

Tony DeLuca, a buyer for the board, could not be reached for comment.