Saskatchewan Public Employees Benefits Agency issued an RFP for a firm to review the daily unit valuation of investment options in the province's public defined contribution plan, the C$6.5 billion (US$5.9 billion) Saskatchewan Public Employees' Pension Plan, Regina.
The plan has eight investment options, including a suite of lifecycle funds.
The agency, which is the plan's administrator and record keeper, wants to determine whether current valuation methodology meets industry best practices and whether it has the staffing capacity to perform the duties. “Due diligence is so necessary,” said Trevor Davis, the agency's assistant director, pension and benefit information services. “We think we're doing a good job with this, but it's always important to make certain that we are.”
Mercer is the plan's consultant.
The RFP is on the Saskatchewan provincial procurement website. Proposals are due at 2 p.m. CST on Oct. 14. A selection is expected the week of Nov. 3.