Toronto Transit Commission Pension Fund Society issued an RFP on Thursday for a firm to conduct a review of the C$4.6 billion (US$4.2 billion) pension fund's governance procedures and practices, according to the TTC website.
The society's board wants to compare the pension fund's governance with guidance from the Canadian Association of Pension Supervisory Authorities, a national organization of pension regulators, and also review industry best practices.
The plan's actuary, Mercer, cannot bid for the RFP, nor can its law firms Osler, Hoskin & Harcourt and Hicks Morley, because of potential conflicts of interest, according to the website.
The RFP is available on MERX, a Canadian procurement website. Proposals are due at 2 p.m. EDT May 29. A selection date was not indicated in the RFP.
Joanne Benedetto, contract administrator, could not be reached by press time for further information.
