The $125 million Les Schwab Tire Centers profit-sharing fund, Prineville, Ore., is considering a move to outside management for fixed income, said Jim Goad, manager-finance.
The fund runs about $2 million internally in fixed income, but could increase its allocation as part of the consideration to hire an outside manager.
The pension board could make a decision next month on the move and start a search for a manager.
R.V. Kuhns & Associates is assisting in the study.
Returns in pooled stable value funds held steady in the third quarter with an average return of 1.6%, according to the Heuler Analytics universe of pooled GIC funds, the same as during the second quarter.
For the 12-month period ended Sept. 30, pooled GIC funds returned an average of 6.5%, up slightly from the 12-month average of 6.43% reported at the end of the second quarter.
The Hueler universe consists of bank pooled funds totaling more than $23 billion in stable value assets.