Northern Indiana Commuter Transportation District, Michigan City, Ind., is searching for an investment consultant for its two 401(a) plans and two potential new 457 plans.
The district issued an RFP because it has been a long time since the services have been put up for bid, said Stephanie Modglin, purchasing agent, in an email. Current consultant Stifel Financial is invited to rebid, Ms. Modglin said.
The consultant would advise the district on the two 401(a) plans with combined assets of $8 million and two new 457 plans the district plans to implement: one for management and staff, and one for union employees. Newport Group is the record keeper for the existing plans, and the district expects the firm to be the record keeper for the new plans.
The RFP is available on the district's purchasing website. Registration is required. Proposals are due at 2:30 p.m. EST on Feb. 21. A decision is expected on or after March 30.