Regina Police looking for manager to implement derisking plan

Regina (Saskatchewan) Police Pension Plan is seeking a money manager to implement a derisking plan for the C$270 million ($203 million) pension fund.

The police pension fund was closed to new entrants as of June 2014, with new police hires after that date moved to a target benefit plan.

The pension plan was 81% funded on a solvency basis as of Dec. 31, 2014, the date of its last actuarial valuation, and was 75% funded on a going-concern basis.

The closed plan’s asset allocation is 40% fixed income, 24% global equities, 15% Canadian equities, 10% private equity, 6% U.S. equity and the remainder in real estate, according to the RFP.

Mobius Benefit Administrators, which administers the police pension plan, issued the RFP, which is on the website of SaskTenders, Saskatchewan’s public procurement website. Proposals are due at noon CST Feb. 24. A selection date was not listed in the RFP.

Officials at Mobius could not be reached for further details.