Maryland Teachers & State Employees Supplemental Retirement Plan, Baltimore, is issuing new RFPs through a formal procurement process for stable-value managers for its 401(k) and 403(b) retirement plans and its 457 deferred compensation plan, said Mike Halpin, deputy executive director.
Trustees for the $1.5 billion fund made the decision after reviewing responses to an earlier RFP, Mr. Halpin said. ‘‘If somebody was going to customize a product . . . it would require us to go through the formal processes of an open bid,’’ he said.
No deadline has been set. Managers that bid on the earlier RFP will be invited to submit new proposals, Mr. Halpin said.
Separately, Roland L. Unger has been named director of finance at the plan. He replaces Moses Daniels, who is retiring. Mr. Unger, an accountant, previously had his own consulting practice.
