New York State Deferred Compensation Board - Active Fixed Income RFP
MESSAGE TO BIDDERS (Posted January 23, 2024):
Thank you for responding to the RFP from financial organizations for a separately managed fixed portfolio for the Deferred Compensation Plan for Employees of the State of New York and Other Participating Public Jurisdictions released on November 8, 2023. We are writing to let you know that the Calendar of Events contained in the RFP has been modified as follows:
- Notification of Finalists – On or about January 29, 2024
- Presentation to the Board Staff and Advisors – On or about February 12 and February 13, 2024
- Anticipated Notification of Successful Investment Managers – On or about May 13, 2024
ORIGINAL REQUEST FOR PROPOSAL:
The State of New York, through the New York State Deferred Compensation Board, is seeking formal written proposals from financial organizations to provide Active Intermediate Aggregate Fixed Income and Active Short Duration Fixed Income investment management services as detailed below:
- Active Intermediate Core Fixed Income benchmarked to the Bloomberg Intermediate Aggregate Index
- Active Short Duration Fixed Income benchmarked to the Bloomberg 1-3 Year Government/Credit Index or the Bloomberg 1-3 Year Government Index
One or more financial organizations may be selected for purposes of investing a portion of the New York State Deferred Compensation Plan’s Stable Income Fund in the above fixed income strategies. Assets will be held in the Stable Income Fund’s custodial account and will be wrapped by a benefit responsive contract that is selected separately by the Stable Income Fund structure manager, GSAM Stable Value, LLC.
To be eligible for selection, the financial organization must be an organization duly authorized to do business in the State of New York, and be (i) a registered investment adviser under the Investment Advisers Act of 1940, as amended, or (ii) a bank, as defined in that Act; or (iii) an insurance company qualified under the laws of more than one state to manage, acquire or dispose of assets of plans which meet the requirements for qualification under the Internal Revenue Code, governmental plans and eligible state deferred compensation plans.
Deadline for RFP questions: Nov. 17, 2023
RFP submission due date: Dec. 15, 2023
Please see the full RFP and documents below: