Ohio Public Employees Retirement System, Columbus, is searching for project consultants to provide comprehensive reviews of OPERS' investment staff compensation, as well as incentive compensation plan design.
The $101.4 billion retirement system has issued two RFPs. According to the RFPs, one is for a firm to provide a comprehensive pay study of "competitive pay rates for the professional-level positions in our investment division" and one for a firm to provide collect core principles and concerns with the current incentive compensation plan design and then "perform a comprehensive review of the current plan, and present to the board recommendations for a design (that) addresses the core principles and stated concerns."
OPERS investment staff consists of "approximately 40 positions and 57 incumbents," the staff-pay RFP said. As of Sept. 30, according to Pensions & Investments data, about $42.2 billion of the $99.1 billion in defined benefit plan assets were internally managed.
OPERS spokesman Michael Pramik could not immediately provide further information.