New York State Common Retirement Fund, Albany, is searching for a firm to conduct a fiduciary and conflict-of-interest review of the $182.5 billion pension fund, said a notice posted on the website of state Comptroller Thomas DiNapoli, the sole trustee of the pension fund.
State regulations require a fiduciary and conflict-of-interest review every three years by an independent party, the RFP said. The most recent review covered the three fiscal years ended March 31, 2012. Results of the review, conducted by Funston Advisory Services, were published in February 2013, the RFP said.
The new review will cover the three fiscal years that ended March 31, 2015. The term of the contract will be one year.
The RFP is available on the comptroller’s website. Proposals are due at 4 p.m. EDT on Oct. 27. Interviews are scheduled to be conducted in early December, and a contract is expected to take effect in late December, according to the RFP.