Delaware Office of the State Treasurer, Dover, likely will begin a search for an investment consultant for the state's deferred compensation plans next week, said Chris Haas, spokeswoman for the treasurer's office.
The office's plans management board likely will vote at its Sept. 4 meeting to approve the issuance of an RFP due to the pending expiration of current consultant Cammack Retirement Group's contract on Dec. 31, Ms. Haas said. The firm will be invited to rebid.
Pending the Sept. 4 approval, the RFP will be posted on the state's procurement website shortly afterward. Ms. Haas did not have information on the proposal due date, but said final selection likely will occur at the plans management board's meeting in December.
The state's deferred compensation plans are the $692 million 457 plan, $124 million 403(b) plan and $22 million 401(a) plan. The plans share a lineup of 15 investment options, a self-directed brokerage account and a target-date fund lineup managed by Capital Group.