Cedar Rapids, Iowa, hired Retirement Plan Advisors as consultant to assist the city in a search for record keepers for its 457 plan, according to an award notice on its website.
The city issued a request for qualifications in May for a consultant to assist its staff in conducting the search because it is considering consolidating the number of 457 plan record keepers to one or two firms from the current five firms.
The city plans to issue an RFP for record keepers later this year for a contract beginning Jan. 1, according to the RFQ, which did not disclose the plan's asset size, the names of the record keepers or whether they are eligible to rebid.
According to the award notice, Hyas Group, Innovest Portfolio Solutions and Mesirow Financial also submitted proposals. There were no finalist presentations.
Rachelle Stewart, the city's human resources director, could not be immediately reached for further information.
