Key Takeaways
- • Western Health Systems is seeking investment advisory firms to provide fiduciary advisory and related services for its 401(a) and 457(b) Retirement and Deferred Compensation Plans.
- • The mandate covers two plan types, indicating a fiduciary-level advisory relationship rather than a limited consulting engagement.
- • Institutional investment advisory firms are the target respondents for the search, according to the publisher summary.
- • The primary source does not disclose plan assets, RFP deadlines, or selection timelines.
Summary
Western Health Systems is seeking investment advisory firms to provide fiduciary advisory and related services for its 401(a) and 457(b) Retirement and Deferred Compensation Plans, according to a Financial Investment News (FIN) report. The request targets institutional investment advisers capable of serving as fiduciaries to the health system's defined contribution and deferred compensation arrangements.
The 401(a) and 457(b) structures are commonly used by nonprofit and governmental employers. A 401(a) plan is a qualified employer-sponsored plan, while a 457(b) plan is a non-qualified deferred compensation plan available to certain tax-exempt organizations and government entities. Advisory mandates covering both plan types typically require expertise in plan design, investment menu construction, fee benchmarking, and ongoing monitoring under fiduciary standards.
The primary source is brief and does not specify plan asset levels, the number of participants, evaluation criteria, submission deadlines, or the expected contract term. Allocators and advisory firms seeking more detail would need to consult the original solicitation documents directly.
The 401(a) and 457(b) structures are commonly used by nonprofit and governmental employers. A 401(a) plan is a qualified employer-sponsored plan, while a 457(b) plan is a non-qualified deferred compensation plan available to certain tax-exempt organizations and government entities. Advisory mandates covering both plan types typically require expertise in plan design, investment menu construction, fee benchmarking, and ongoing monitoring under fiduciary standards.
The primary source is brief and does not specify plan asset levels, the number of participants, evaluation criteria, submission deadlines, or the expected contract term. Allocators and advisory firms seeking more detail would need to consult the original solicitation documents directly.
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