Chicago Transit Authority is searching for an investment consultant for its 457 and 401(k) plans.
The authority issued an RFP because the contract of current consultant Retirement Plan Advisors is expiring, said Janice Irving, plan coordinator, deferred compensation plan. The firm is eligible to rebid, Ms. Irving said.
The two plans have combined assets of $536 million and share a lineup of 26 individual investment options plus a target-date fund lineup managed by Vanguard Group. The record keeper is MassMutual Financial.
The RFP is available on the CTA's procurement website. Registration is required. Proposals are due at 3:30 p.m. CST on Feb. 26. A timeline for a decision has yet to be determined.