Lansing (Mich.) Board of Water and Light Retirement System is searching for an investment consultant for its defined benefit and retiree health plans, which total $232 million.
The RFP said applicants must have provided investment consulting services to at least three public employees retirement systems in Michigan and that at least two of those plans must have more than $250 million in assets.
The search is being conducted because the current consultant, Bank of America Merrill Lynch, is getting out of the consulting business, said Tony De Luca, a buyer in the Lansing Board of Water and Light’s purchasing and warehousing department.
Proposals are due by 2 p.m. EDT on July 17, and the final selection will take place between Aug. 17 and Aug. 21.
The new consultant’s contract will begin Oct. 1.