Elgin (Ill.) Fire Pension Board is searching for an investment consultant, said Colleen Lavery, treasurer of the $63.7 million pension fund and chief financial officer for the city.
The city is required to put services out to bid every five years. The pension fund anticipates awarding a three-year contract with the opportunity to renew for an additional two years.
Marquette Associates, the current consultant, is invited to rebid. Marquette's contract expires in August, Ms. Lavery said.
The pension fund has a current asset allocation of 42.1% domestic equity, 41.8% fixed income, 15.5% international equity and 0.6% cash equivalents.
The RFP is available on Elgin's website. Proposals are due by 2 p.m. CDT on June 4. A hiring decision is anticipated on July 29, Ms. Lavery said.