Los Angeles County Deferred Compensation and Thrift Plans issued an RFP for a stable value fund consultant to advise the 457 and 401(k) plan administration committees on the investment management of their white-label Stable Income Fund.
Mercer is the current consultant. The RFP does not disclose whether the firm is invited to rebid, but the last time the services were put up for bid in 2016, Mercer was the incumbent and was rehired.
As of June 30, stable value fund holdings in the $14.6 billion 457 plan and $3.8 billion 401(k) plan totaled $3.8 billion and $852 million, respectively.
The RFP is available on the website of the Los Angeles County treasurer and tax collector, which is conducting the search. Proposals are due at 5 p.m. PDT on Sept. 23. A timeline for a selection was not provided.
Keith Knox, county treasurer and tax collector, could not be immediately reached for further information.
