Norwalk, Conn., is searching for an investment consultant for the city's four defined benefit plans and its 401(a) and 457 defined contribution plans.
The city is seeking a firm to provide ongoing services including annual evaluations of investment policies, quarterly evaluations of the plans' money managers and assistance in the interviews of potential managers, according to an RFP posted on the city's procurement website.
The RFP does not disclose the name of the current consultant or whether the firm is eligible to rebid. Recent pension board meeting minutes show Callan is the current investment consultant.
According to the RFP, the four DB plans have combined assets of $460 million in assets. The RFP does not disclose the asset sizes of the 401(a) plan and 457 plan.
The RFP is available on the city's procurement website. Registration is required. Proposals are due at 2 p.m. EDT on April 11. A selection is expected sometime in May.
Sharon Conners, purchasing agent, could not be immediately reached for further information.
