Rock Island, Ill., is searching for an investment consultant for the city's $32 million Police Pension Fund and $24 million Fire Pension Fund, wrote Cynthia L. Parchert, city finance director, in an e-mail.
The chosen consultant would also advise the city on its $35 million in operating assets, according to an RFP posted on the city's website.
The search is being conducted due to the pending contract expiration of the pension funds' current investment consultant, Investment Consulting Group, which is invited to rebid. It is the first time the city is seeking a consultant for its operating assets.
Proposals are due at 4 p.m. CDT on April 3. Finalist interviews are tentatively scheduled for the week of April 21, with a contract recommendation scheduled to go before the City Council at its meeting on May 5.
