Hilton Head Island, S.C., is searching for an investment consultant for the town's $37 million 401(k) plan and $9 million 457 plan, according to an RFP posted on its procurement website.
The RFP does not disclose the name of the current consultant and whether the firm is eligible to rebid, but the last time the town put the services up for bid was in 2018, and the incumbent consultant AndCo Consulting was rehired.
The plans' record keeper is Empower Retirement. They share an investment options lineup consisting of 13 core options, a target-date fund series managed by Vanguard Group, and a guaranteed lifetime income option.
The RFP is available on the town's procurement website. Registration is required. Proposals are due at 5 p.m. EST on Nov. 16. A timeline for a selection was not provided.
Richard Groth, the town's procurement officer, could not be immediately reached for further information.
