Key Takeaways
- • Abilene, Texas, is seeking an independent investment consultant for its 457(b) deferred compensation plan, according to a request for proposals (RFP) issued by the city.
- • The consulting engagement will be awarded separately from the plan's record-keeping contract, and the selected firm must operate independently of both the record keeper and investment providers.
- • Respondents must have at least five years advising government defined contribution plans, serve at least five public-sector clients with similar scope, and manage a minimum of $100 million in assets under advisement.
- • Proposals are due Dec. 18, 2026, with the city anticipating an award in February or March 2027.
- • The RFP does not state a reason for the search or whether the incumbent consultant may rebid.
Summary
Abilene, Texas, is searching for an investment consultant for its 457(b) deferred compensation plan, according to a request for proposals issued by the city and reported by Pensions & Investments. The story was published November 13, 2026, and is authored by Rob Kozlowski.
The consulting mandate is structured to be separate from the plan's record-keeping contract. The selected firm must operate independently of the record keeper and of the plan's investment providers, a requirement that reflects the governance separation typically sought in public-sector defined contribution plans.
To qualify, respondents must have at least five years of experience advising government defined contribution plans. They must also currently serve at least five public-sector clients with a similar scope of services and manage a minimum of $100 million in assets under advisement.
The RFP does not provide a reason for the search, nor does it specify whether an incumbent consultant is eligible to rebid. The full RFP is available on the city's website. Proposals are due by Dec. 18, and the city anticipates awarding the contract in February or March 2027.
The consulting mandate is structured to be separate from the plan's record-keeping contract. The selected firm must operate independently of the record keeper and of the plan's investment providers, a requirement that reflects the governance separation typically sought in public-sector defined contribution plans.
To qualify, respondents must have at least five years of experience advising government defined contribution plans. They must also currently serve at least five public-sector clients with a similar scope of services and manage a minimum of $100 million in assets under advisement.
The RFP does not provide a reason for the search, nor does it specify whether an incumbent consultant is eligible to rebid. The full RFP is available on the city's website. Proposals are due by Dec. 18, and the city anticipates awarding the contract in February or March 2027.
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