Dade County Public Schools Supplemental Early Retirement Plan, Miami, is searching for a discretionary investment adviser, according to an RFP posted on the school district's website.
The selected firm will provide investment consulting services as well as “discretionary implementation of investment strategy,” following investment policy guidelines, according to the RFP. The current firm could not be learned by press time.
The $25 million pension plan was closed to new employees on July 1, 2000, and had no additional employees vesting after July 1, 2003. The asset allocation was 61% equity and 39% short-term fixed income and cash, as of April 30.
The contract is for three years with an option to renew for another three years.
The RFP is available on the procurement website. Proposals are due at 2 p.m. EDT June 20. Finalist presentations are slated for July 20 with a hiring decision on Aug. 7.
Roberto Romero, executive director in the retirement office, and Barbara Jones, buyer in the procurement management services office, could not be reached for additional information.