Knoxville (Tenn.) Deferred Compensation Committee is searching for an investment consultant.
The $62 million 457 plan's committee is seeking proposals from firms to provide services that include ongoing investment advice, quarterly financial wellness education to participants and attending quarterly meetings of the committee, according to an RFP on the BidNet Direct procurement website.
The RFP does not disclose whether the current consultant is invited to rebid. The last time the services were put up for bid was in 2018, SageView Advisory Group was hired, and incumbent consultant Raymond James Financial had rebid for the services. Kristi Paczkowski, a member of the deferred compensation committee, said at the time the RFP had been issued to follow best practices in putting services up for bid every five years.
Prudential Financial is the current record keeper, and the plan is undergoing a transition to Empower Retirement to be completed in February, according to the RFP. Empower completed its acquisition of Prudential's retirement business in April 2022.
The RFP is available on BidNet Direct. Registration is required. Proposals are due by 11 a.m. EST on Feb. 13. A timeline for a selection was not provided.
Paczkowski, who is also executive director of the $650 million Knoxville City Employees' Pension System, could not be immediately reached for further information.