Southeastern Pennsylvania Transportation Authority, Philadelphia, is searching for an investment consultant for its $358 million 457 plan.
SEPTA is seeking proposals from consultants that can provide services including due diligence on investment options to be selected for the plan, periodic reviews of fund manager performance, and review and recommend changes to the structure of the investment option lineup, according to an RFP on its website.
The plan has 26 individual investment options and a T. Rowe Price Group target-date fund series. The current record keeper is Empower Retirement.
The RFP does not disclose the name of the current consultant or whether the firm is invited to rebid.
The RFP is available on SEPTA’s website. Proposals are due by 4:30 p.m. EDT on May 27. A timeline for a selection was not provided.
Carolyn Caruso, SEPTA contract administrator, could not be immediately reached for further information.
