Searches And Hires
The retirement system hired its incumbent consultant to a five-year contract following a search conducted in 2019.
Empower Retirement currently provides record keeping, trust and custody services for the deferred compensation plan.
The plan received five proposals in response to a fiduciary consultant RFP issued in January.
The search follows a new asset allocation that includes maiden targets to corporate credit and bank loans.
The plan has begun its search for private equity, private credit and real assets consultants.
The plan’s incumbent consultant will see its contract expire next year.
The plan approved commitments to two core infrastructure funds and one new core real estate manager relationship.
The retirement plan replaced its domestic core-plus fixed-income manager following a bond manager review in May.
The city issued an RFP seeking services for approximately $200 million in assets.
The plan’s general investment consultant will see its contract expire next year.