Bristol County Water Authority Employees Pension Plan, Warren, R.I., is searching for a firm to manage the assets of the $4.2 million pension fund, confirmed Mark Champagne, manager of accounting and management information systems.
The selected firm will handle all of the pension fund's investments with external money managers and recommend an asset allocation to the board. The plan is closed to new hires.
Incumbent Washington Trust Investors is invited to rebid.
The authority is required to go out for bid every three to five years, Mr. Champagne said in a telephone interview. He added they are not unhappy with Washington Trust.
The RFP is available on the water authority's website. Proposals are due at 4 p.m. EST Jan. 18. A hiring decision is expected 30 to 45 days after the RFP due date, Mr. Champagne said.