Searches and Hires

Montgomery County Public Schools seeks consultant to review pension fund’s investment operations

Montgomery County Public Schools, Rockville, Md., is looking for an consultant to conduct a one-time review of the investment operations of its $1.7 billion defined benefit plan.

The RFP notes that as the program's investments have gotten more complex in recent years, officials would like the consultant to evaluate operations with the goal of maintaining effective oversight. "It is really a checkup on our operations," said Marisa Grant, chief investment officer of the school system's office of investments.

The pension fund's investment consultant is NEPC.

The one-year contract will start March 1, and the school system reserves the right to extend it an additional year.

The pension fund's target asset allocation is 50% equity, 23% investment-grade fixed income, 25% alternative investments and 2% cash, according to the RFP. Proposals are due by 2 p.m. EDT Jan. 25. Board approval is scheduled for March 22.

The RFP is available on the school system's website.