Los Angeles County Employees Retirement Association, Pasadena, Calif., is searching for actuarial consulting and actuarial auditing firms.
The $48 billion pension plan officials intend to hire two firms, but firms are encouraged to submit proposals for both searches, according to the RFP on LACERA's website.
LACERA launched the search because its actuarial consulting contract with incumbent Milliman and its actuarial auditing agreement with Segal Co. are set to expire with the completion of fiscal year-end 2016 actuarial projects. A single firm may apply for both positions. It could not be learned by press time if the firms can rebid. CEO Gregg Rademacher could not be reached for further information.
Proposals are due Dec. 7. LACERA officials expect the five-year contract to begin Jan. 1, with an optional two-year extension.
Separately, the pension fund's board in closed session committed up to $75 million to Incline Equity Partners IV, according to the minutes of its Oct. 12 meeting. The fund will focus on value-added investment in distribution, outsource services and niche manufacturing business.