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Four firms pitch pension investment services to Springettsbury Township Police Pension Board
Summary
At a special Oct. 30 meeting, four firms including incumbent FMB presented investment and administrative proposals for the Springettsbury Township Police Pension plan (about $28 million). Fee proposals ranged from 0.20% to 0.30%; no selection or vote was taken.
SPRINGETTSBURY TOWNSHIP, Pa. — Four firms presented competing proposals on Oct. 30 to the Springettsbury Township Police Pension Board as part of a request-for-proposal process to provide advisory and management services for the township's police pension plan, which trustees and presenters described as about $28 million in assets.
Incumbent FMB Wealth Management, represented by Mark Ranzini, opened the session and highlighted the firm's multi-year relationship with the plan, recent work to update the investment policy and the plan's recent performance. "So far this year we have a return of over 10% total return," Ranzini said, adding one-year returns "over 11" and three-year returns "over 12." He also noted operational capacity, saying FMB processes more than $1,000,000 in benefit payments annually for the plan.
Challenger CBIZ (presenting as the…
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