Macon-Bibb County scouting for consultant for pension funds, new DC plans

Macon-Bibb County, Ga., is searching for an investment consultant to assist in creating 457 and 401(a) plans and advise on its three defined benefit plans, according to an RFP posted on the county's procurement website.

The county is seeking a firm that will assist in the creation of investment options lineups for the new plans, which would open for new employees effective Jan. 1, 2019, as well as provide advice "in regard to ongoing development and diversification of its current defined benefit investment portfolio." Those plans are the $224 million Macon-Bibb County Fire and Police Employees' Retirement System and $85 million Division A of the Macon-Bibb County Pension and Retirement Systems (both closed to new employees on Jan. 1, 2014, when the city of Macon and Bibb County were consolidated), and the $115 million Macon-Bibb County Employee Pension Plan. Which firm now provides consulting services to those plans and whether the firm is invited to rebid could not be immediately learned.

The county's health-care and retirement benefits committee is assisting in the search and will work with the hired consultant to recommend the Macon-Bibb Commission adopt the new defined contribution plans effective Jan. 1, 2019, according to the RFP, .

The RFP is available on the county's procurement website. Proposals are due at noon EDT on Oct. 4. A timeline for a decision was not provided.

Keith Moffett, county manager, could not be immediately reached for further information.