Pennsylvania's Stroud Area police pension fund collars PFM as bundled provider

Stroud Area Regional Police Pension Plan, East Stroudsburg, Pa., hired PFM Advisors as bundled provider, confirmed James Phillips, chief administrative officer of the $11.6 million pension fund, in an e-mail.

An RFP was issued in August. BNY Mellon Asset Management had been the provider since the regional police department was formed in 2000, and the pension board decided to look at competitive bids for the first time.

BNY Mellon was a finalist along with Univest Bank.