Alpharetta, Ga., is searching for an investment consultant for its $67 million defined benefit pension plan, and 457 and 401(a) plans, which have $52 million in combined assets.
The city is seeking a consultant to track quarterly investment performance in the plans, perform asset allocation studies and recommend the selection and termination of money managers for the plans' boards, according to an RFP posted on the city's procurement website.
Whether current consultant Morgan Stanley is invited to rebid could not be immediately learned; however, the last time services were put up for bid in 2014, the firm was the incumbent and was rehired.
As of March 31, the actual allocation of the DB plan was: 49.1% domestic equities; 31.5% fixed income 13.7% international equities; 4.9% core real estate; and 0.8% cash.
The DC plans share and investment lineup consisting of 23 investment options and a target-date fund lineup managed by Vanguard Group.
The RFP is available on the city of Alpharetta's procurement website. Registration is required. Proposals are due at 10 a.m. EDT on July 16. A timeline for a selection was not provided.
Thomas G. Harris, the city's finance director, could not be immediately reached for further information.