Maryland State Retirement & Pension System, Baltimore, is looking for a consultant to provide a comprehensive review of its governance policies and practices, including the board's self-evaluation policy.
Executive Director Dean Kenderdine said in an interview that governance policies for the $50.8 billion pension fund have been in place since 2003 and are reviewed internally every three years.
Board Chairwoman Nancy Kopp, Maryland state treasurer, and Mr. Kenderdine thought the time was right to have an independent review. "We've never had anybody from the outside come in and give a complete review of the board's governance policies. It is appropriate to have that kind of review from time to time," he said.
The RFP is available on the Maryland procurement website. Responses are due by Jan. 29 at 2 p.m. EDT. The review is expected to take six months. No decision on a hiring date has been made.