Jackson, Mich., issues call for investment consultant for 2 pension plans

Jackson, Mich., is searching for an investment consultant for its two police and fire pension funds.

General consulting services sought for the $35.8 million City of Jackson Act 345 Policemen and Firemen Retirement System and the $3.1 million City of Jackson Policemen's and Firemen's Pension Fund include investment policy updates; asset allocation reviews; development of search criteria for money managers and performance measurement guidelines; and quarterly reporting, according to the RFP.

A city ordinance requires that all service contracts go out for bid every five years. Graystone Consulting is the current consultant for the two pension funds and is permitted to rebid, said Will Forgrave, a spokesman, in an email.

The RFP is available on the city's website.

Proposals are due by 4 p.m. EDT June 16. Mr. Forgrave said the timetable for selecting the successful candidate hasn't been set.