Abington Township, Pa., is searching for an investment consultant for its two defined benefit plans, said Michael LeFevre, township manager.
The township issued an RFP as part of its normal due diligence; current consultant Aon Hewitt Investment Consulting, which is invited to rebid, has been the two plans' consultant for 15 years and Mr. LeFevre said it was just time to put the services up for bid.
He added it is possible separate consultants could be hired for each plan once proposals are evaluated.
The Abington Township Police Pension Plan has $56 million in assets and the Abington Township Non-Uniformed Pension Plan has $51 million in assets.
Proposals are due at 5 p.m. EDT on Aug. 31. A decision is expected on Oct. 14.
The RFP is available on the township's website.