Miami Beach (Fla.) Employees’ Retirement System will search for an investment consultant, wrote Rick Rivera, pension administrator, in an e-mail.
The $509 million pension fund will issue an RFP in mid-June based on the board of trustees voting to put the services of all vendors up for bid in the coming months, beginning with external auditors and then investment consultant and other vendors afterward, including actuarial and legal services. Manager RFPs are not part of the board’s vote.
Current consultant Milliman will be invited to rebid.
Mr. Rivera did not provide further information by press time.