Coweta County, Newnan, Ga., is searching for investment consultants for its defined benefit pension plan and two defined contribution plans, confirmed Kelly Mickle, assistant county administrator.
The county has issued an RFP in an effort “to formalize our process,” Ms. Mickle said in a telephone interview. Current consultant Griffith Financial is invited to rebid.
Once a consultant is hired, the first task will be to establish new investment policies for the plans.
The pension plan, which was closed to new hires in June 2006, has $46 million in assets. The 457 plan and 401(a) plan have $4 million and $3 million in assets, respectively.
The pension plan RFP and the defined contribution RFP both are available from the county’s website. Proposals are due at 3 p.m. EDT on April 4. County executives hope to make a decision sometime in May.