MSRP Stable Value Manager
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By this notice we announce the publication of a Request for Proposals (RFP) document from the Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans (the "Board"). This RFP seeks proposals from qualified parties for a successor stable value manager. The RFP package is attached to this email and is also available 4/7/2011 on the Internet from the Board's website (www.MSRP.state.md.us) and from the website for Maryland state government commerce (www.eMarylandmarketplace.com).
The Board by statute is the governing body for most supplemental retirement plans available to employees of the State of Maryland. The Board maintains four plans: a grandfathered 401(k) plan; a 457(b) plan; a 403(b) plan; and 401(a) match plan. Total assets for all plans are approximately $2.5 billion.
The Board currently maintains a benefit responsive stable value fund, known as the MSRP Investment Contract Pool (ICP), as an investment option for participant selection. Assets of the stable value fund are valued at approximately $747 million.
The Board relies on one stable value fund manager to recommend a suitable investment policy for the ICP and, with Board approval, is responsible for selection and oversight of the asset managers and other arrangements for the pool.
Proposals should be submitted to the Board as explained in the RFP document, before the 2:00 p.m. deadline on May 10, 2011. A pre-proposal conference will be held at 1:00 PM on April 20, 2011 in our office. Please call ahead to attend: Telephone 410-767-8740 or 1-800-543-5605. Your participation is welcomed and appreciated.
