Stable Value
The deferred compensation plan terminated a stable value fixed-income manager to improve its risk/return profile yesterday.
The search is due to the June 30, 2025 contract expiration of the plan’s incumbent.
The plan rehired its incumbent for the services at a board meeting last week.
The contract has not yet been finalized, however, the plan has awarded a firm in the search.
The firm was also the sole bidder to an RFP issued last summer.
The plan currently has $64 million invested in stable value within its participant-directed plans.
The plan has begun its searches for a stable value fund manager and a record keeper.
The plan will soon issue RFPs for a stable value fund manager and a record keeper.
The plan last rehired Galliard Capital Management in 2017.
The plan, which eliminated target allocations and terminated a manager within its stable value fixed-income option today, will see its executive director depart on Dec. 2.