Pennsylvania Insurance Department, Harrisburg, is searching for an investment consultant for the state’s Bureau of Special Funds, said Lori Trout, administrative officer, insurance department, in an e-mail.
Morgan Stanley is the current consultant of the bureau, which oversees the $793 million Workers’ Compensation Security Fund and the $275 million Underground Storage Tank Indemnification Fund, Ms. Trout said. The firm is invited to rebid.
The insurance department is conducting the search due to the pending expiration of Morgan Stanley’s contract. Ms. Trout did not provide further information.
The request for quotations is posted on a state procurement website. Proposals are due at 3 p.m. EDT on May 27. A timetable for a decision has yet to be determined.