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Rhode Island Public Transit Authority·Rhode Island

Independent Investment Advisor

Closes 6/10/2026$150k – $500kInvitation for Bid
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Description

Rhode Island Public Transit Authority is seeking an independent investment‑advisory firm to provide strategic pension‑fund consulting services. The advisor will develop an Investment Policy Statement, review and recommend asset‑allocation changes, monitor investment performance, prepare and present semi‑annual or quarterly reports, and assist with RFP preparation and evaluation for investment‑manager selection. The contract begins July 1, 2026, runs for one year with up to four optional one‑year renewals, and is funded 80 % by the Federal Transit Administration and 20 % by RIPTA.

Attached files

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Contact

Sheryl Gomes(Contracts Manager)

[email protected]

(401) 784-9500

Key dates

Opened
6/25/2025
Questions due
5/18/2036
Closes
6/10/2026
Duration
1 year

Last updated

Details

Type
Invitation for Bid
Industry
Financial Services
NAICS
523130
Solicitation №
26-19

Budget estimate

$150,000 – $500,000

The solicitation does not publish a ceiling price; typical fees for comprehensive pension‑fund advisory services of this scale range from $150 K to $500 K annually, depending on reporting frequency, depth of analysis, and optional RFP assistance. Because the contract may be renewed up to four additional years, total potential earnings could approach $2 M.

AI estimate from the solicitation

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