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Committee directs staff to negotiate with IntelliSense to manage city retirement plan investments
Summary
City staff said IntelliSense Investment Solutions would act as a discretionary manager for multiple city retirement plans, moving investment execution from in‑house staff to an outside manager; the committee recommended staff negotiate agreements and seek council approval to waive the selection process.
City staff presented a proposal to move the city’s retirement plan investment management from in‑house administration to a discretionary third‑party manager. The recommendation came after investment committees for the various plans reviewed options and recommended IntelliSense Investment Solutions Inc., which serves as an adviser for the city’s MET defined‑contribution plan.
Staff desc…
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