St. Louis Firemen's Retirement System is searching for a general investment consultant because its current consultant, Summit Strategies, has been sold, Executive Director John Brewer said in an email.
The $478 million defined benefit plan has been frozen since February 2013.
"Our consultant, Summit Strategies, has merged with Mercer. Mercer no longer consults for public pension systems so we were forced to end our 13-year relationship with Summit," Mr. Brewer wrote in the email. "The board chose ... AndCo Consulting on a temporary basis until the RFP process is completed, sometime in the first quarter," he added.
In August, Mercer announced it would acquire the defined contribution consulting and outsourced CIO businesses of Summit Strategies Group, while AndCo Consulting said it would acquire Summit's public DB consulting business.
The general investment consultant will assist with asset allocation decisions, investment manager and monitoring, and provide performance analysis of managers, the RFP states.
AndCo will be allowed to bid for the contract, Mr. Brewer wrote.
The deadline to respond to the RFP is 3 p.m. CST Jan. 18. The RFP is posted on FRS' website.
The board expects to make a decision in March.
