Benton (Ark.) Firemen's Pension and Relief Fund is searching for an investment consultant for its $1.8 million defined benefit plan, confirmed Karen Scott, finance director for the town.
Incumbent Merrill Lynch will not rebid because the firm is getting out of the municipal pension business, Ms. Scott said.
The pension fund has been closed to new participants since the end of 1982. All firefighters hired after Jan. 1, 1983, participate in the $1 billion Arkansas Local Police and Fire Retirement System, Little Rock.
The RFQ can be obtained by e-mailing Ms. Scott at [email protected]. Proposals are due at 2 p.m. EST Nov. 14. A hiring decision is expected on Nov. 19.