The Rhode Island State Investment Commission this week will hear presentations from the four vendors recommended as semifinalists to administer the state’s new defined-contribution program, according to General Treasurer Gina Raimondo.
The presentations are scheduled to start at 9 a.m. Eastern Standard Time Tuesday at the Department of Administration building in Providence.
The four semifinalists — Fidelity Investments, Great-West Retirement Services, ICMA Retirement Corp. and TIAA-Cref — were chosen from the 12 vendors who submitted proposals in response to the state’s request for proposals.
The Investment Commission, along with the staff of the Treasury Department, and Segal Advisors Inc., the consultant for the defined-contribution request for proposals process, will review the proposals.
Rhode Island will develop and launch the program as part of pension overhaul legislation it passed last year.
The commission is expected to approve a final choice by March 1 and the new program will take effect July 1.
