New York State Deferred Compensation Plan, Albany, is seeking a stable value structure manager.
Callan, investment consultant to the $28.1 billion plan, is assisting with the search.
The search is being conducted because the plan's contract with its current manager, Goldman Sachs Asset Management, is set to expire, said David Fischer, executive director of the plan, in an email. GSAM is invited to rebid.
The stable value structure manager is responsible for managing the risk characteristics of the Stable Income Fund, including liquidity strategy, credit quality and duration. The manager provides advice, analysis and recommendations to board members for selecting portfolio managers and providers of wrapped separate account fixed-income products. The manager also provides monthly reports that review and evaluate the performance of the Stable Income Fund.
The plan had $8.3 billion in stable value assets as of June 30.
The RFP is available on the state plan's website. Proposals are due Nov. 20. A decision is expected to be made on or around Feb. 21.