Searches and Hires

Ohio Public Employees seeks consultant to review staff pay, incentives

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.

The comprehensive pay RFP and compensation plan design RFP are both available on OPERS' website. Proposals for both are due at 2 p.m. CST on March 4. Timelines for decisions were not provided.

OPERS spokesman Michael Pramik could not immediately provide further information.