Stoneham Contributory Retirement casts for investment consultant

Stoneham (Mass.) Contributory Retirement System is searching for an investment consultant for its $58 million pension fund, confirmed Karen DeAngelis, retirement administrator.

The selected firm will have a limited scope of advising the board on investment options and the associated costs, advantages and risks, according to the RFP.

The pension fund does not currently have an investment consultant.

The pension fund is currently fully invested in the Massachusetts Pension Reserves Investment Trust. If the board decides to divest partially or in whole from the PRIT fund, the board can extend the contract agreement for full investment consulting services.

The RFP can be obtained by e-mailing Ms. DeAngelis. Proposals are due at noon EDT Oct. 24. A hiring decision will be made by Jan. 31.