Norwood (Mass.) Contributory Retirement System is searching for an investment consultant for its $164 million defined benefit plan.
The search is being conducted because the board's contract with its current investment consultant, Meketa Investment Group, is set to expire this year, said Debra A. Wilkes, executive director of the retirement system, in an email. Meketa is invited to rebid.
The system's membership consists of 700 active members and 400 retired members. Its funded ratio was 79% as of Jan. 1, 2016. The system invests with 15 managers.
The RFP is available on the system's website.
Proposals are due by 3 p.m. EDT on March 15. The board has not yet determined a selection date, said Ms. Wilkes.