Searches and Hires

Oregon Retirement Savings Board seeks investment consultant

Oregon Retirement Savings Board, Salem, is searching for an investment consultant for the Oregon Retirement Savings Plan, an RFP posted on the state's procurement website shows.

The board, according to the RFP, is seeking a consultant to provide ongoing services, including investment policy development and review, investment performance monitoring and review, quarterly performance monitoring, and conduct manager and record keeper searches when needed, among other responsibilities. Whether current consultant Segal Marco Advisors is eligible to rebid could not be immediately learned.

The Oregon Retirement Savings Plan, which began in October 2017, offers workers without a workplace retirement or savings plan automatic enrollment, payroll deduction and automatic escalation, on an opt-out basis. As of Dec. 31, the plan, known as OregonSaves, had $11 million in assets and more than 45,000 employees — or 73% of those eligible — have enrolled. The October 2017 premiere began with employers with 100 or more employees and will continue to roll out to smaller employers through 2020. When fully implemented, the program is expected to be available for over 1 million Oregon-based workers.

The RFP is available at the state's procurement website. Proposals are due at noon PDT on March 11. A notice of intent to award is tentatively scheduled to be issued on April 15.

James Sinks, spokesman for Oregon Treasurer Tobias Read, whose office oversees the board, could not immediately provide further information.