New York State Deferred Compensation Plan, Albany, approved the issuance of an RFP for an independent investment consultant, said David Fischer, executive director, in an email.
The RFP will be issued because the $25.7 billion plan's contract with its current consultant, Callan, expires March 31, 2021. Callan is expected to rebid.
The plan has a target allocation of 56.1% to equities, 32.5% fixed income, 9.7% target-date funds, and 1.7% to other investments, according to the P&I Research Center.
The board approved the RFP at its Feb. 21 meeting.