Federal Retirement Thrift Investment Board, Washington, will search for index managers to run four of the five investment options offered by the $173 billion Federal Thrift Savings Plan, said Tom Trabucco, spokesman. The board will spend the next month or so deciding how to frame RFPs, whether to separate custody from asset management, and whether to seek a single firm to manage all the funds or to look for separate firms for each one, Mr. Trabucco said. The board will probably issue RFPs by March or April.
The board today accepted the recommendations of consultant Ennis Knupp to keep the existing indexes for the four investment options: the S&P 500 index for the C fund, the Dow Jones Wilshire 4500 for the S Fund, MSCI EAFE for the I Fund, and the Lehman Brothers Aggregate bond index for the F Fund. The fifth fund, the G fund, is invested in special government securities.
The board also rehired Metropolitan Life Insurance as annuity provider for the TSP. An RFP was issued in September.