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Texas-based pension plan seeks investment consultant

by Jody Barhanovich

The City of Plano (Texas) Retirement Security Plan is searching for its first investment consultant for the city’s Other Postemployment Benefits Trust and Retirement Security Plan Trust. Both trusts are permanent trust funds that are administrator funds of the City of Plano. The assets of the respective trusts are restricted to expenses related to the plans. The investment committee currently oversees the $91 million defined benefit plan. The city intends to award the contract to a single firm. The term of the contract will be three years with two optional three-year renewal periods.A pre-proposal meeting will be held Oct. 10, and proposals are due Nov. 4.

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