Tempe, Ariz., hired Innovest Portfolio Solutions as investment consultant for its 457 and 401(k) plans.
The city announced the awarding of the consulting contract March 21 on its procurement website.
Tempe issued an RFP in December due to the upcoming expiration of current consultant Hyas Group's contract, said Eric Kraenzle, city procurement officer, at the time.
According to the city's procurement website, Hyas Group was one of three other firms that submitted bids.
Nationwide Financial is the plans' record keeper. The 457 and 401(k) plans have a combined $219 million in assets.
Mr. Kraenzle could not be immediately reached for further information.