Tucson (Ariz.) Deferred Compensation Board hired Innovest Portfolio Solutions as the first investment consultant for the city's 457 and 401(a) plans, said Art Cuaron, the city's pension and benefits administrator, in an email.
The board issued an RFP in March for its first investment consultant to provide investment policy reviews, quarterly plan performance reporting and monitoring, portfolio analysis and recommendations, among other services.
Hyas Group was the other finalist. ICMA-RC is the plans' record keeper.
As of Dec. 31, the 457 and 401(a) plans had a combined $262 million in assets and shared a lineup of 29 investment options.
