Erie County Deferred Compensation Committee, Buffalo, N.Y., is seeking a fiduciary consultant for both the committee and the Erie County Deferred Compensation Plan, a government-sponsored 457(b) deferred compensation plan, according to a notice on the Erie County website.
The contract term will be for five years, with options for two one-year extensions.
The committee serves as the governance body overseeing the plan, a 457(b) optional plan for employees of Erie County.
The selected firm will provide fiduciary services, including assisting with plan governance; educating committee members and plan participants; conducting quarterly plan reviews (for fees as well as investments); creating or editing investment policy statements; assisting with amendments or updates to the committee and/or plan's charter and by-laws, among other duties.
Brian Bray, the commissioner of personnel at Erie County, said that the current fiduciary consultant Hyas Group has been invited to respond to the RFP.
Proposals are due by 3 p.m. ET on March 4, and the finalist will be selected on April 29.
As of Sept. 30, the Erie County Deferred Compensation Plan had $320.5 million in assets.