The Town has received more than one inquiry regarding the required number of Pennsylvania Pension Plans that are currently managed. Below is the Town’s response to those inquiries.
While there is no state mandate on the minimum number of plans and assets that a firm is managing in order to submit a proposal, the Town has determined that it desires to have a firm well versed in the nuances of Pennsylvania Pension Plan requirements. Therefore, the requirement has been set at 10 PA clients with at least $200 Million in municipal plans ($250 Million overall). The Town believes that these levels provide the experience necessary to manage the McCandless Plan.