St. Joseph, Mo., is searching for an investment manager and custodian for its two transit employee pension funds, said Patty Robbins, purchasing agent.
The search is being conducted due to the pending contract expiration of current manager and custodian U.S. Bank. The firm is invited to rebid. One firm will be hired for both roles.
The two pension funds, which have a combined $2 million in assets, are the Transit Management of St. Joseph Bargaining Employees Pension Plan and the Transit Management of St. Joseph Non-Bargaining Employees Pension Plan.
The RFP is available on the city's website. Proposals are due at 4 p.m. CDT on May 2. A decision is expected by May 27, with a contract start date of June 1.