Lexington-Fayette Urban County Government, Lexington, Ky., is searching for an investment consultant for its $29 million City Employees’ Pension Fund, said Todd Slatin, director of central purchasing.
Incumbent J.P. Morgan Asset Management is invited to rebid.
The pension fund has a target asset allocation of 40% each domestic equity and fixed income, and 20% international equity, according to plan documents.
The pension fund has been closed in 1974 and the average age of the remaining participants is 81, the RFP said.
An RFP for investment consulting services was issued last year. However, the search was canceled to give the government and pension fund time to review the plan’s investment policy. Other than some slight changes to the asset allocation, “not a whole lot” changed, Mr. Slatin said.
The RFP is available on the government’s purchasing website. Registration is required. Proposals are due by 2 p.m. EDT on Sept. 9. A hiring decision is expected in late October.