San Francisco 457 plan's manager to retire
By Rob Kozlowski | December 11, 2012 1:14 pm
Carol Cypert, deferred compensation plan manager at the San Francisco City & County Employees' Retirement System, is retiring effective Friday, confirmed Norm Nickens, executive assistant to Executive Director Jay Huish.
Mr. Nickens has been named acting deferred compensation plan manager of the $2.2 billion 457 plan.
Ms. Cypert could not be reached by press time to learn of her plans. Mr. Nickens said a search for her successor is under way.
Separately, the 457 plan is searching for a third-party administrator and stable value manager, Mr. Nickens said.
Great-West Retirement Services is the current third-party administrator and stable value fund manager, and is eligible to rebid for both searches.
Mr. Nickens said the retirement system is legally required to issue RFPs every five years. The retirement system will consider one or more managers for the stable value option, the total exposure of which is expected to be $900 million to $1 billion, according to the RFP.
The third-party administrator RFP and the stable value RFP are both available from the fund's website. Proposals for both searches are due at 5 p.m. PST March 8. A timetable for a decision has yet to be determined.