Rochester-Genesee Regional Transportation Authority, Rochester, N.Y., is searching for an investment consultant for one of its two union pension plans.
The authority is seeking a firm to "provide investment consulting and advisory services" for the Retirement Plan for Union Employees at Regional Transit Service Inc., according to an RFP posted on the authority's website.
Manning & Napier is currently providing discretionary investment consulting services for the plan, according to the RFP. The RFP does not disclose whether the services up for bid are discretionary or whether Manning & Napier is eligible to rebid.
The pension plan had $55 million in assets as of March 31, 2020, according to the authority's most recent comprehensive financial annual report. Also as of that date according to the CAFR, the plan's target allocation was 62% equities, 34% fixed income, 3% alternatives and 1% cash equivalents.
The RFP is available on the authority's procurement website. Registration is required. Proposals are due by 8 p.m. EDT on Oct. 13. A timeline for a selection has yet to be determined.
Justin Feasel, purchasing manager, could not be immediately reached for further information.