Plano (Texas) Retirement Security Plan expects to launch a search for its first investment consultant in the next two to three months, said Andrea Cockrell, administrative services manager for the city.
Oversight of investment managers and other consulting responsibilities are currently handled by the $120 million defined benefit plan’s investment committee.
Engaging an outside investment consultant would remove some of that “burden” from the investment committee, Ms. Cockrell said.
Once approved, a request for qualifications will be available on procurement website BidSync.
Details of the search and a timeline for a hiring decision are still being determined.
