Rockville, Md., is searching for an investment consultant for its $121 million defined benefit plan, $51 million defined contribution thrift plan and $38 million 457 plan.
The city is seeking proposals from investment consultants that can assist and advise the retirement board on asset allocation and investment manager selections, according to an RFP on the city's website.
The RFP does not disclose whether current consultant Segal Marco Advisors is eligible to rebid.
As of Sept. 30, the DB plan's actual allocation was 20.9% international equities, 17.9% fixed income, 17.1% domestic large-cap equities, 12.7% domestic small-cap equities, 12.5% real estate, 11% global balanced/tactical asset allocation, 6.9% real assets and the rest in other.
The DB plan's target allocation is 20% each fixed income and international equities, 18% domestic large-cap equities, 12.5% real estate, 12% domestic small-cap equities, 10% global balanced/TAA and 7.5% real assets.
The thrift plan and 457 plan share a lineup of 15 core investment options and a target-date series managed by Capital Group.
The RFP is available on the city's procurement website. Registration is required. Proposals are due by 10 a.m. EST on Jan. 12. A selection is expected sometime in March.
Stacey Webster, the city's chief financial officer, could not be immediately reached for further information.
