Bloomington (Minn.) Fire Department Relief Association Pension Fund is searching for an investment consultant, said Sofia Anastopoulos, principal at Public Funds Consulting, which is assisting in the search, in an e-mail.
The $152 million pension fund does not currently have a consultant. Ms. Anastopoulos said the pension fund’s board believes that “engaging a consultant to provide an independent review is in keeping with its fiduciary duty and will help ensure the retirement security of its members going forward.”
The pension fund is seeking a consultant either on a one-time project basis or continuing basis to review its investment policy and make recommendations on potential changes to its asset allocation.
The pension fund’s assets are managed by Parr McKnight Wealth Management Group and the $60.1 billion Minnesota State Board of Investment, St. Paul.
Proposals are due at 10 a.m. CST on Dec. 10. Finalist interviews are scheduled for the week of Jan. 11, with an award notification scheduled for Jan. 20.
The RFP is available on the association’s website.
John Bayard, the association’s president, did not return a phone call by press time.
