Franklin Regional Retirement System, Greenfield, Mass., is searching for an investment consultant and a financial institution to provide institutional custodial/master trust services for the $145 million defined benefit plan.
The searches are being conducted to comply with Massachusetts state law that requires contracts to go out to bid every seven years, confirmed Dale Kowacki, executive director of the pension fund.
Dahab Associates is the plan's current investment consultant and Comerica is the current custodian. Both firms are invited to rebid.
The RFPs are available on the retirement system's website. Proposals for both searches are due by 4 p.m. EDT Aug. 16. Mr. Kowacki said he expects to award contracts by Oct. 31.