Denver Water is looking into outsourced chief investment officer services for its $150 million 401(k) plan and $46 million 457 plan.
Its board of water commissioners issued a request for information to determine whether it should go forward with its current model of a non-discretionary investment consultant or move to an OCIO for the plans, the RFI posted on the BidNetDirect procurement website says.
Portfolio Evaluations is the current 3(21) investment adviser for the plans. The firm was chosen following an RFP process in 2020 over the incumbent, Ellwood Associates.
The RFI says while a request-for-proposal process is not anticipated this year, responses "could influence future RFPs."
The RFI is available on BidNetDirect. Registration is required. Responses are due at 10 a.m. MDT on Oct. 11. A timeline for a decision was not provided.
Amy Ingram, procurement supervisor, could not be immediately reached for further information.
