Florida State Board of Administration, Tallahassee, rehired Ernst & Young Investment Advisers and Financial Engines Advisors for financial education and advice services to participants of the $127 billion Florida Retirement System defined benefit plan and the $7.4 billion Florida Retirement System 401(a) defined contribution investment plan, said John Kuczwanski, FSBA communications manager.
The hires are pending contract negotiations.
The FSBA, which oversees a total of $160.9 billion in assets, including those of the two plans, didn't use a consultant for the search, which is the result of invitation to negotiate issued this fall.
Ernst & Young and Financial Engines are the incumbents.
