Somerville seeks help in reviewing pension fund's administration
By Kevin Olsen | October 4, 2012 3:15 pm
Somerville (Mass.) Retirement Board is searching for a consulting firm or individuals to perform an organizational review of the administration of the $174 million Somerville Retirement System, according to a request for qualifications and fees posted on the city's purchasing department website.
The search is the result of an August 2011 audit that called for a “re-evaluation of the system administration” and “establish a formal management chart,” according to the RFQF. The board believes a new organizational structure should include the creation of an executive director or retirement system administrator.
Current staff includes the executive secretary to the board, systems accountant, head clerk and principal clerk.
The organizational review is expected to start in November and must be completed within six weeks.
The RFQF is available on Somerville's website. Proposals are due at 4:30 p.m. EDT Oct. 22.
Mary Phinney, executive secretary, was not available for additional information.