Clay County Utility Authority, Middleburg, Fla., hired SageView Advisory Group as investment consultant for its 457 and 401(a) plans.
The authority's board of supervisors approved the hiring at its July 5 meeting, according to an award notice on its procurement website.
The authority issued an RFP in April. The name of the incumbent consultant has not been disclosed, but past board of supervisors meeting minutes show an RFP had previously been issued in 2021 and the board selected NFP Retirement at its meeting on Oct. 5.
Minutes for the Nov. 2 board of supervisors meeting show that Advus Financial Partners and SageView both issued protests to the selection during the protest period, saying NFP Retirement omitted material information concerning litigation in their proposal. The board at that same meeting rejected NFP Retirement's proposal and selected Advus Financial Partners.
Angelia Wilson, the authority's procurement manager, could not be immediately reached for further information on why the RFP was reissued this year.
The plans have a combined $14 million in assets. Ascensus is the plans' third-party administrator.
