Caroline County, Denton, Md., is looking for an investment, management and administrative services manager for its $15.9 million defined benefit plan.
Denton's Pension Trust Fund has had the same manager since 1969. According to the county's RFP, the search “is motivated by the county pension board's desire to achieve a strong rate of return on investments while minimizing costs.” The name of the current manager could not be learned by press time.
Earlier this year, the pension board instituted a series of pension reforms, including 5% contributions from new employees. Existing employees will phase in to that 5% level over the next 10 years.
Qualifications are due at 10 a.m. EDT Sept. 26; the second round of RFP requirements is due at 10 a.m. Oct. 30.
The final selection will be made Nov. 14, according to the RFP.
The contract is for three years, with the option of renewal for up to five years, according to the RFP.
Calls to Amy Thetford, county purchasing manager, and the pension fund were not returned at press time.
The RFP is available on Maryland's procurement website.