Nevada System of Higher Education, Reno, is searching for an investment consultant for its four defined contribution plans, an RFP posted on the state of Nevada's procurement website shows.
A reason for the search was not provided in the RFP, but the last time the services were put up for bid in February 2015, Michelle Kelley, retirement plan manager, said at the time that the state requires the system put the services up for bid every three to five years. Aon Hewitt Investment Consultant, the incumbent consultant, was rehired at the conclusion of that process. Current information was not immediately available.
The system's 401(a) plan, two 403(b) plans and 415(m) plan have combined assets of $3 billion. The plans' record keepers are American Century Investments, TIAA-CREF and VALIC.
The RFP is available on the state of Nevada's procurement website. Registration is required. Proposals are due at 4 p.m. PDT on March 28. A timeline for a decision was not provided.
Ms. Kelley was not available to provide further information.
