Metropolitan Washington Airports Authority, Washington, hired Mariner Institutional as investment consultant for its two defined benefit plans, VEBA trust and two defined contribution plans, according to an award notice on its website.
The authority issued an RFP in August for an investment consulting firm that can provide advice to its retirement committee, according to an RFP on its procurement website.
The RFP did not disclose the name of the incumbent consultant, and officials at the authority could not be immediately reached for further information.
The two pension plans have a total of $385 million in assets. They share a target allocation of 30% domestic large-cap equities; 20% each fixed income and international equities; and 10% each convertible bonds, domestic small-cap equities and real estate.
The VEBA trust has $161 million in assets and has a target allocation of 70% equities and 30% fixed income.
The 457 plan and 401(a) plan have $288 million and $40 million, respectively, in assets. They share an investment lineup of about 80 funds, and the record keeper is Lincoln Financial Group.
