Moline, Ill., hired Sawyer Falduto Asset Management as investment consultant for the city's Police Pension Fund and Firefighters' Pension Fund, said Will Tolmie, trustee on both pension funds' boards, in an email.
The city issued an RFP in April because of a state law that requires the services be put up for bid every five years.
Incumbent consultant Mitchell, Vaught and Taylor was a finalist along with Graystone Consulting, Propel Financial Advisors and Wall Capital Group.
The pension funds have $73 million in combined assets and have asset allocations of about 65% equities and 35% fixed income.
