under which the Director shall award one contract each year on a competitive basis to an entity in the private sector to act as trustee of all portable retirement and investment accounts (as defined in section 223A of the Internal Revenue Code of 1986) established pursuant to section 4(a)(2) during such year. Each amount in a portable retirement and investment account provided by a trustee pursuant to a contract under this subsection shall be invested in a lifecycle fund provided by the trustee as described in subsection (c). In awarding contracts to entities under this subsection, the Director shall consider— (1) the specific composition of the lifecycle funds provided by such trustee