Danvers (Mass.) Contributory Retirement System hired Segal Marco Advisors as investment consultant, said Susan M. Little, retirement manager, in an email.
The $157 million pension fund issued an RFP in February for a consultant to serve a contract of no less than seven years, according a notice at the time on the website of the Massachusetts Public Employee Retirement Administration Commission.
PERAC typically requires pension funds to put services up for bid every seven years.
Current consultant Graystone Consulting did not rebid for the services, Ms. Little said. She did not provide further information. The firm had been rehired following the prior RFP process in 2018.
