Idaho State Board of Education, Boise, is searching for an investment consultant for its three defined contribution plans, Jason Urquhart, purchasing officer, said in an email.
The board is seeking a "non-discretionary fiduciary consultant ... who will provide ongoing recommendations/guidance to the (retirement plan committee) regarding vendor performance and offerings," according to the request for quotes. The Optional Retirement Defined Contribution plan, 403(b) and 457 plans had a combined $919.9 million in assets administered by TIAA-CREF as of Dec. 31, 2015, and $134.4 million administered by VALIC as of March 31, 2016, according to the RFQ. Information on a current consultant and whether the firm is invited to rebid could not be learned. Mr. Urquhart would not provide further information by press time.
The RFQ is available on the WebProcure procurement website. Registration is required. Proposals are due at 5 p.m. MDT on Sept. 28. A timeline for a decision was not provided.