Rockville (Md.) Employees Retirement System is searching for an investment consultant for its hybrid pension plan, confirmed Gavin Cohen, CFO and finance director for the city.
Incumbent Segal Rogerscasey is invited to rebid. Its contract expires in June. The contract is for five years with two additional one-year renewal options.
The defined benefit portion of the plan has $67.4 million in assets and has a current asset allocation of 26% international equity, 22% fixed income and mortgage, 17% large-cap equity, 13% small-cap equity, 12% real estate and 10% TIPS. The defined contribution part of the plan has 14 investment options and $20.4 million in assets.
The selected firm will also serve as consultant for the city's $3.3 million retiree benefit trust.
The RFP is available on the city's website. Proposals are due at 2 p.m. EDT April 5. A selection is expected May 17, Mr. Cohen said.