St. Joseph (Mo.) Police Pension Fund is searching for an investment manager, custodian and plan administrator.
The $37 million pension fund has issued two RFPs available on the city's website. The first is for an investment manager to manage the fund's total portfolio, and the second is for custodial services and plan administration.
Citizens Bank and Trust is the incumbent firm for all three services. The RFP does not disclose whether the firm is eligible to rebid. Citizens Bank was originally hired in 2015.
The pension fund was closed to new hires in August 2018. Police employees hired since then are automatically enrolled in the $8 billion Missouri Local Government Employees Retirement System, Jefferson.
The custodian/administrator RFP and investment manager RFP are available on the city's website. Proposals for both are due at 4 p.m. CDT on Sept. 28. Selections are scheduled to take place on Oct. 20.
Kitty Karr, accountant, could not be immediately reached to provide further information.
The fund has target asset allocation ranges of 40%-75% equities, 25%-60% fixed income, 0%-20% cash and up to 10% in alternatives.