Investment Consultant Services

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The Pasadena Fire and Police Retirement System (“PFPRS” or “System”) is a defined benefit Plan governed by a Fire & Police Retirement Board (“Board”) under the provisions of the City of Pasadena (“City”) Charter. Its operations have been reported as a Pension Trust Fund in the City’s financial statements. The System is a closed, single employer, defined benefit pension plan that continues to provide retirement, disability and survivor benefits for eligible sworn safety employees of the City.  The System serves the City’s sworn employees hired prior to July 1, 1977, except those who elected to transfer to the California Public Employees Retirement System (“CalPERS”) either when the System was closed to new members, or in June 2004.  The System is governed by a Board of five trustees; one member of the City Council, two Pasadena residents appointed by the City Council, and two members of the Retirement System elected under the supervision of the Retirement System.  Board members are elected to terms of four years with no restriction on reappointment.  Trustees receive no compensation. The Pasadena Fire & Police Retirement System provides benefit programs for approximately 178 retired members and beneficiaries.  These programs are administered by the Fire & Police Retirement Board, including, but not limited to, payment of retirement benefits, investment of fund assets, and such other responsibilities traditionally performed by the fiduciary of a retirement system.  The Board is obligated under California law to exercise its responsibilities for the sole and exclusive benefit of the members and beneficiaries of the Retirement System.The Board of the City of Pasadena Fire & Police Retirement System is seeking proposals to provide general investment consulting services to the Pasadena Fire & Police Retirement System.  This Request for Proposal (RFP) is to solicit firms with experience in providing a variety of general investment consulting services to public pension plans.