Benton (Ark.) Firemen's Pension and Relief Fund hired Morgan Stanley Smith Barney as investment consultant for its $1.8 million defined benefit plan, confirmed Karen Scott, town finance director.
Previous consultant Merrill Lynch did not rebid because it is getting out of the municipal pension consulting business.
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.