Macon-Bibb County, Ga., hired AndCo Consulting as investment consultant to assist in creating 457 and 401(a) plans, and advise on its three defined benefit plans, according to a notice posted on the county's website.
The county issued an RFP in September for a firm to assist in the creation of investment option lineups for the new plans, which were scheduled to open for new employees on Jan. 1, as well as provide advice "in regard to ongoing development and diversification of its current defined benefit investment portfolio," the RFP said.
Those plans are the $224 million Macon-Bibb County Fire and Police Employees' Retirement System and $85 million Division A of the Macon-Bibb County Pension and Retirement Systems (both closed to new employees on Jan. 1, 2014, when the city of Macon and Bibb County were consolidated), and the $115 million Macon-Bibb County Employee Pension Plan. Which firms were the incumbent consultants to those plans and whether they rebid for the services could not be immediately learned.
Keith Moffett, county manager, could not be immediately reached for further information.