Wilton, Conn., is seeking an outsourced CIO to provide pension plan management services for its $165 million Wilton Employees Retirement Plan.
The town of Wilton currently sponsors the plan to provide retirement benefits to many of its full-time employees, except for certified personnel of the board of education, who are covered by the $27.8 billion Connecticut Teachers’ Retirement System, Hartford, according to the request for qualifications and proposals.
The plan was closed to new hires as of April 15, 2015, except for firefighters, the RFQP noted.
Kenneth R. Hoffman, a member of the town's pension plan investment management committee, said in an email that the pension plan currently has no OCIO and the length of the contract to be awarded has not yet been established.
The plan is currently overseen by the investment committee with oversight from Wilton’s board of trustees, Hoffman said, while Aon acts as an investment consultant, but not as an OCIO.
Among other conditions, respondents must have more than $10 billion in assets under advisement or management.
Proposals are due by 2 p.m. EDT on March 31, according to the tentative timeline in the RFQP. A selection committee will interview finalists by June 30, and the town’s board of selectmen expects to award the contract by Sept. 30.
