Longmont, Colo., is searching for an investment consultant for its three defined benefit plans, said Valerie Scott, procurement specialist.
The search is being conducted due to the Dec. 31 contract expiration of incumbent consultant Innovest Portfolio Solutions, which is invited to rebid.
The RFP is available on the Rocky Mountain E-Purchasing System website. Registration is required. Proposals are due at 2 p.m. MDT Oct. 13. Interviews are tentatively scheduled for the week of Nov. 9 with a potential hiring decision Nov. 30.
The General Employees’ Retirement Plan, the Old Hire Police Pension Plan and Old Hire Fire Pension Plan have about $131.7 million, $1.8 million and $3.4 million in assets, respectively, for a total of about $136.9 million. The police and fire pension funds are closed.
The plans have a combined target asset allocation of 26% domestic fixed income, 15.5% each domestic large-cap value and growth equity, 13% international equity, 7% smidcap equity, 6% each floating-rate corporate loans and high-yield bonds, 4% each emerging markets equity and real estate, and 3% commodities.
