Town of Guilford, Conn., is seeking an investment consultant for its three defined benefit plans totaling $60 million.
The town's three single-employer DB plans are The Employees' Pension Plan, Police Retirement Fund and Public School Employees' (Non-Certified) Pension Plan.
Currently, the town's pension assets are administered by Wells Fargo Advisors and actuarial valuations are performed annually by Milliman. The plans are now closed, and all new full-time employees are enrolled in a 401(a) defined contribution plan administered by ICMA-RC.
The RFP is available on the town's website. Proposals are due by 2 p.m. EDT on Aug. 17. A selection is expected to be made in early October.
Further information was not available; Finance Director Maryjane Malavasi did not immediately respond to a request for comment.
