Los Angeles City Deferred Compensation Plan is searching for a stable value manager, said Esther Chang, an analyst in the city’s personnel department, employee benefits division.
The search is being conducted because incumbent Galliard Capital Management’s contract expires June 30; the firm is invited to rebid.
About $896 million is currently invested in the stable value fund.
The RFP is available on the city’s website. Proposals are due by 3 p.m. PST on Feb. 19. A hiring decision is expected on April 21 with a contract start date of July 1.
The plan has about $4.5 billion in assets. Empower Retirement is the plan’s record keeper.
Investment consultant Mercer is assisting with the search.