Minot, N.D., rehired Bremer Investment Management & Trust as outsourced CIO for its pension fund, said Penny Johnson, city treasurer.
Bremer Investment has full discretion on investments for the $57 million pension fund outside of certain criteria put forth by the pension board.
An RFP was issued in August.
The pension fund will be closed to new employees on Jan. 1. It currently has an asset allocation of 54% equity, 38% fixed income and 8% alternatives.