Wheaton, Ill., hired Mesirow Financial as the first investment consultant of its $27 million 457 plan, according to a notice of award posted on its website.
The city issued an RFP in April for a firm to advise the city's deferred compensation plan committee on investment options, review the current plan structure, and provide ongoing monitoring of investments and record keepers. The record keepers are MissionSquare Retirement and Nationwide Financial.
In a July 10 memo to the Wheaton City Council on its website, Holly Schulz, director of human resources, said the RFP was issued after staff identified the need to "review the plan's offerings, investment options and consider consolidation of the plans."
Ms. Schulz could not be immediately reached for further information.