Galesburg, Ill., is searching for investment consultants for its $26 million Police Pension Fund and $23 million Firefighters' Pension Fund, said Ericka Gillenwater, deputy city clerk.
The city has issued two RFPs for the services due to the pending expiration of the contracts of incumbents Stratford Investments, consultant for the police fund, and Great Lakes Advisors, consultant for the firefighters' fund. Both firms are invited to rebid. The city might consider consolidating to one consultant, Ms. Gillenwater said.
The RFPs for the police pension fund and firefighters' pension fund services are available on the city's website. Proposals for both RFPs are due at 11 a.m. CST on Jan. 9. A timeline for a decision was not provided.