Searches and Hires

Moline, Ill., on lookout for investment consultant for police and fire pension fund

Moline, Ill., is searching for an investment consultant for the city's Police Pension Fund and Firefighters' Pension Fund, said Kathleen A. Carr, city finance director, in an email.

The city issued an RFP because of a state law that requires the services be put up for bid every five years, Ms. Carr said. Current consultant Mitchell, Vaught and Taylor is invited to rebid.

The pension funds have $73 million in combined assets and have asset allocations of about 65% equities and 35% fixed income.

The RFP is available on the city's website. Proposals are due at 4 p.m. CDT on April 30. The city plans to make a selection by July 1, Ms. Carr said.