Dearborn, Mich., is searching for an investment consultant for its three closed defined benefit plans and a post-employment health-care plan, an RFP posted on the BidNet Direct procurement website said.
The city has issued an RFP for a consultant to advise the city's $283 million Chapter 23 Police and Fire Retirement System, $141 million General Employees Retirement System, $82 million Post-Employment Healthcare Plan and $24 million Chapter 21 Police and Fire Retirement System. NEPC is the current investment consultant; whether the firm is eligible to rebid could not be immediately learned.
As of June 30, the actual allocation of the Chapter 23 Police and Fire Retirement System was: 29.6% domestic equities, 24.6% fixed income, 19.6% international equities, 10% alternatives, 9.8% real estate and 6.4% emerging markets equities. As of that same date, the General Employees Retirement System's actual allocation was: 30.8% fixed income, 30.5% domestic equities, 26.4% international equities, 7.2% alternatives and 5.1% real estate.
Also as of June 30, the actual allocation of the Chapter 21 Police and Fire Retirement System was: 53.8% fixed income, 30.5% global equities and 15.7% domestic equities.
The RFP is available on the BidNet Direct procurement website. Registration is required. Proposals are due at 2 p.m. CDT Oct. 25.
Carrie Darkowski, buyer for the city, could not be immediately reached to provide further information.