Allegheny County Port Authority, Pittsburgh, hired Cowden Associates as actuarial consultant for its three defined benefit plans with a combined $693 million in assets, according to a board resolution posted on the port authority's website.
An RFP was issued in January because the plans' previous consultant, Mercer, no longer offers general consulting services to public defined benefit plans.
Buck Consultants was the other finalist.
Cowden will receive a three-year contract with an option to extend for an additional two years, according to the resolution.
The three authority plans cover employees in Amalgamated Transit Union Local 85 and the International Brotherhood of Electrical Workers Local 29, as well as those not represented by a union.
James Shearer, acting administrator, was not available for comment, and a phone call to spokesman Jim Ritchie was not returned by press time.
