Elgin (Ill.) Police Pension Board is searching for an investment consultant, confirmed Colleen Lavery, chief financial officer for the city.
The city is required to go out to bid every five years, Ms. Lavery said in a telephone interview. Incumbent Marquette Associates is invited to rebid; its contract expires in the first quarter of 2014.
The $68 million pension fund has a current asset allocation of 41.9% domestic equity, 31% fixed income, 14.1% international equity, 6.4% real estate, 4.5% global tactical asset allocation and 2.1% cash.
The RFP is available on Elgin's website. Proposals are due at 2 p.m. CDT Aug. 23. A hiring decision is expected in October.