Edwardsville Borough, Pa., is searching for one firm to be investment manager and administrator for the borough's police defined benefit plan and two defined contribution plans with a combined $2 million in assets, confirmed Charles Szalkowski, borough manager.
The plans' current manager and administrator, Bank of America Merrill Lynch, informed the borough it will no longer be providing services to boroughs and municipalities, Mr. Szalkowski said in a telephone interview.
The plans are the Police Defined Benefit Plan, Firefighter Defined Contribution Plan and Non-Uniformed Employee Defined Contribution Plan.
The RFP is available at www.edwardsvilleborough.com/upload/Requests%20for%20Proposals%20for%20Pension.pdf.
Proposals are due Sept. 7. Mr. Szalkowski said officials hope to make a decision by mid-October.