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Defined Contributions Plan Committee unanimously recommends Fiduciary Consulting Group for investment consulting
Summary
At a Jan. 14 special meeting in Sacramento, the Defined Contributions Plan Committee voted unanimously to recommend the city award a contract to Fiduciary Consulting Group for investment consulting services after members expressed a preference to retain the incumbent and discussed concerns about staff limits on direct consultant contact.
At a Jan. 14 special meeting in Sacramento, the Defined Contributions Plan Committee voted unanimously to recommend the city award a contract to Fiduciary Consulting Group (FCG) to provide investment consulting services.
Committee members said they reviewed multiple proposals but generally favored retaining the incumbent firm; Member Colville moved to recommend the award to FCG and Member Kang seconded. The clerk conducted a vocal roll call and the motion passed unanimously.
Why it matters: The committee’s consultant advises on investment options, record-keeper fees and fund lineups for the city’s defined contribution plans. Members said the consultant’s advice has had material financial impact in past years and flagged a…
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