Milwaukee City Employes' Retirement System is searching for a...

Milwaukee City Employes' Retirement System is searching for a consultant to provide fiduciary audit services for the $4.3 billion fund, including detailed examination of its investment policy, manager search process and money manager fees. The wide-ranging audit would also examine whether the system is following best practices of midsize to large-size public pension sponsors, according to the RFP. The audit would also provide a "cost/benefit analysis of improvement steps such as expected savings on fiduciary insurance, investment management fees, etc." The RFP is available at http://www.cmers.com/ers/business.htm. Proposals are due March 21, and the system could make a selection in April.