Orlando, Fla., is searching for an investment consultant and global custodian for its three defined benefit pension plans, confirmed pension coordinator Rochelle Burlon.
The city issued RFPs because of the pending expirations of the contracts of investment consultant NEPC and global custodian Bank of New York Mellon on Sept. 30. Both firms are invited to rebid.
The three pension funds are the $446 million Orlando Police Pension Fund, the $299 million Orlando Firefighters' Pension Fund and the $196 million Orlando General Employees' Pension Fund.
Both the investment consultant and global custodian also provide services for the city's operating funds, OPEB assets and bond reserve trust funds.
Proposals are due at 2 p.m. EDT on Aug. 15. Ms. Burlon said an advisory committee will meet later in August to review and evaluate proposals with a decision scheduled before the end of September.
Both RFPs are available on the city's website. Registration is required.
