Passaic County, Paterson, N.J., hired Selective Benefits Group as the first investment consultant for its $100 million 457 plan, said Richard Cahill, the county's director of finance, in an email.
The county had issued an RFP in September for a consulting firm or an individual to provide recommendations regarding the investment management and administration for the plan, he said at the time.
Cornerstone Advisors Asset Management, Marsh & McLennan Agency and Stolzer Rothschild Levy Advisers were the other finalists, Mr. Cahill said in his email Tuesday.
The plan's current record keepers are AIG Retirement Services, Empower Retirement, Equitable, National Life Group and Nationwide Financial.
