Des Plaines, Ill., is searching for an investment consultant for its $53 million 457 plan.
The city is seeking proposals from firms that can provide services for the 457 plan including plan oversight, investment selection and monitoring, according to an RFP on its website.
The RFP does not disclose the name of the current consultant or whether the firm is eligible to rebid. Becky Madison, the city’s director of human resources, could not be immediately reached for further information.
The selected consultant would also provide services for the city’s 401(a) plan, which has less than $1 million in assets, along with a $15 million retiree health plan and $1 million Roth IRA plan.
The RFP is available on the city’s website. Proposals are due by 5 p.m. CST on Nov. 6. A selection by the city council is expected on Dec. 16.
