Saugus (Mass.) Contributory Retirement System is searching for an investment consultant.
The $166 million pension fund has issued an RFP seeking investment consulting firms that can assist its board, according to a notice posted on the website of the Massachusetts Public Employee Retirement Administration Commission.
The notice does not disclose whether the current consultant Wainwright Investment Counsel is eligible to rebid.
Municipal pension funds in Massachusetts are required by PERAC to put services up for bid every seven years. In 2017, the pension fund issued an RFP for investment consulting services for the first time after its board decided to invest as least part of its portfolio on its own. Up until then, all assets were managed by the Massachusetts Pension Reserves Investment Management Board, Boston.
The RFP can be obtained by emailing Ann Quinlan, the pension fund’s board administrator. Proposals are due by Dec. 16. A timeline for a selection was not provided.
Quinlan could not be immediately reached for further information.
