Searches and Hires

Metropolitan St. Louis Sewer District seeks consultant for pension plan, 2 DC plans

Metropolitan St. Louis Sewer District is searching for an investment consultant for its $278 million defined benefit plan, $64 million 457 plan and $7 million defined contribution plan, said Tim R. Snoke, secretary-treasurer.

The sewer district issued the RFP because current consultant Pavilion Advisory Group's contract will expire Sept. 30.

The firm is invited to rebid, Mr. Snoke said.

The pension plan's actual allocation as of Dec. 31 was 42.1% equities, 35.6% fixed income, 12.9% hedge funds, 8.8% real estate and 0.6% cash.

The 457 plan's actual allocation as of that same date was 47.3% domestic equities, 25.5% target-date funds, 17.5% fixed income, 5.3% international equities, and 2.2% each, loan fund and money market fund. The plan has 11 investment options and a target-date fund lineup, all managed by Vanguard Group.

Also as of Dec. 31, the defined contribution plan's asset allocation was 78.9% target-date funds, 13.7% domestic equities, 4.6% fixed income, 2.3% international equities and 0.5% money market fund. The plan has 10 investment options and a target-date fund lineup, also all managed by Vanguard.

The RFP is available on the district's website. Registration is required. Proposals are due at 10 a.m. CDT on June 14. A decision is expected in September.