Balanced Fund RFP

Pursuant to the provisions of 9 NYCRR, Section 9003.2 authorized by Section 5 of the State Finance Law, the New York State Deferred Compensation Board, beginning October 16, 2024, is soliciting proposals from financial organizations to provide a Balanced Fund.

This fund will represent an investment option under the Deferred Compensation Plan for Employees of the State of New York and Other Participating Public Jurisdictions, a plan meeting the requirements of Section 457 of the Internal Revenue Code and Section 5 of the State Finance Law, including all rules and regulations issued pursuant thereto. A copy of the request for proposals will be posted on Callan’s website ( callan.com ) and the Board website ( www.deferredcompboard.ny.gov ). All proposals must be received no later than 5 PM Eastern time on December 3, 2024.

The Board is seeking proposals from financial organizations to provide Balanced Fund. The existing Balanced Fund manager is invited to rebid.

Product Design for Balanced Funds: Responding balanced funds should offer exposure to both equities and fixed income within one fund. The equity/fixed income weights of responding balanced funds must be relatively static (e.g. two-thirds equities and one-third fixed income). The weight in equities must be at least 50% (predominantly U.S. equities), with the remainder in fixed income (predominantly U.S. investment grade fixed income). We are soliciting responses from actively or passively managed balanced funds. This RFP does not seek responses from funds that dynamically allocate between stocks and bonds, such as tactical asset allocation funds. The RFP will seek well-funded daily valued, daily liquid collective vehicles for which the Plan is eligible, such as mutual funds and collective investment trusts, not separately managed accounts.