The $20.3 billion San Francisco City & County Employees' Retirement System is searching for target-date investment management services for its deferred compensation plan, said board secretary Norm Nickens.
The current contract is with Russell Investments and expires on June 16, 2016. Russell is invited to rebid.
The selected provider will act as a fiduciary, constructing and managing customized glidepaths on a fully discretionary basis for a series of target-date funds. The scope of work does not include manager selection, and the selected firm would not be given any guarantees of managing any of the underlying assets, though the firm would be eligible for consideration.
The deferred compensation plan had $2.8 billion in assets as of June 30, including $574 million in 10 custom target-date funds.
Proposals are due by 5 p.m. PST on Jan. 6. A hiring date has not been set. The RFP is available on the system's website.