Panama City (Fla.) Retirement Plan and Trust for the General Employee Pension Fund hired ING as investment consultant, confirmed Becky Barnes, city purchasing manager.
The $6 million 401(a) plan issued an RFP in September because of the pending expiration of current consultant Morgan Stanley Smith Barney's contract on Dec. 31. The firm did not bid.
A new contract of an undetermined length is scheduled to begin on Jan. 1, according to Ms. Barnes.
