The City of Alexandria, Va., is performing an in-house search for an actuary, an investment manager and a provider of defined benefit administrative services for its supplemental retirement plan, said Daniel Neckel, director of finance.
The Principal Group, which has been performing all duties and managing the plan's $29 million in assets in a general account for five years, will be allowed to bid on the jobs.
RFPs for the investment manager are due Feb. 7, and RFPs for the actuarial and administrative services are due Feb. 11. Firms will be allowed to respond to more than one proposal. A decision could be made as early as March.