Sterling (Ill.) Police Pension Fund hired Mitchell, Vaught & Taylor as investment consultant, said Tim Morgan, president of the pension fund's board.
A search was launched earlier this year due to a requirement that services go out to bid every five years. Incumbent consultant The Barrett Group rebid and was a finalist. The other finalist was Wall & Associates.
Mitchell, Vaught & Taylor brings a new perspective to the pension fund's investment portfolio and its fee structure was attractive, Mr. Morgan said.
The pension fund has about $13 million in assets.