South Burlington seeks consultant for city, school district pension plans

South Burlington, Vt., and South Burlington School District are jointly searching for investment consultants for their defined benefit plans, confirmed Christa Chambers, school district business office coordinator.

The city issued an RFP for a firm to provide services for both the $22 million South Burlington Retirement Income Plan and $6 million South Burlington School District Retirement Income Plan to “determine if there would be increased efficiency and reduced cost with a combined investment portfolio,” according to the RFP.

The RFP is available from the city's website. Proposals are due at noon EDT Oct. 26. The city hopes to make a decision in January or February, wrote Ms. Chambers in an e-mail.

Bob Rusten, deputy city manager, did not return a phone call by press time.