Freeport (Ill.) Fire Pension Fund and Freeport Police Pension Fund are each searching for investment consultants, said RFPs on the city's website.
The search is being conducted due to a policy that services be put out to bid every five years, said city Treasurer Linda Buss. The funds' current consultant, Marquette Associates, is invited to rebid, she said.
The fire pension fund has approximately $35 million in assets, and the police pension fund, approximately $23 million.
Both proposals are available on the city's website.
Responses are due by 4 p.m. CDT on June 15. A hiring decision could be made in June or July.
The fire pension fund has an asset allocation of 36% fixed income, 35% U.S. equity, 19% international equity, and 5% each alternatives and real estate. The police pension fund has an asset allocation of 36% fixed income, 35% U.S. equity, 20% international equity, 5% alternatives and 4% real estate.