Covington, Ga., is searching for the first investment consultant for its $48 million defined benefit plan.
The city issued an RFP for a consultant to help the city “meet the defined benefit plan’s fiduciary and administrative needs,” said Asher B. Dozier, the city’s assistant human resources director, in an email. There is no incumbent firm, Mr. Dozier said.
As of Sept. 30, the actual allocation of the pension plan was 49.7% equities, 44.4% fixed income and 5.9% money market funds.
The RFP is available on the city's procurement website. Proposals are due at 2 p.m. EST on Nov. 25. A decision is expected by the City Council on Dec. 9.
