Longmont, Colo., is searching for an investment consultant for its three defined benefit plans.
The city is seeking proposals from firms that can assist the boards of the three plans in manager selection and evaluation, making decisions regarding investment policies and asset allocation and provide ongoing consultation and assistance, according to an RFP posted on the BidNet Direct procurement website.
The three plans are the $180 million General Employees Retirement Plan and two closed plans, the Old Hire Firefighters' Pension Plan and Old Hire Police Officers' Pension Plan, which have less than $10 million in combined assets.
The RFP does not disclose the name of the current consultant or whether the firm is invited to rebid. As of Feb. 8, the consultant was Innovest Portfolio Solutions, according to an agenda for that date's board meeting.
The RFP is available on BidNet Direct. Registration is required. Proposals are due at 2 p.m. MDT on Oct. 13. A selection is tentatively scheduled for Nov. 27.
Tiffinie Gaibler, retirement plan specialist, could not be immediately reached for further information.