Lincoln, Neb., hired Fiducient Advisors as non-discretionary investment consultant for its $350 million 401(a) plan and $70 million 457 plan, said Teresa Fleming, assistant purchasing agent.
The city issued an RFP in August to combine services for both plans, according to a response to written questions posted on its purchasing website.
The incumbent consultant was Mesirow Financial for participants using the services of record keeper Ameritas for the 401(a) plan and 457 plan, according to that response. The 457 plan's other two record keepers, Nationwide Financial and MissionSquare Retirement, did not have separate investment consulting services.
Ms. Fleming could not provide further information on which other firms bid for the services.