Waltham Contributory system signs on actuarial consultant
By Kevin Olsen | January 11, 2013 2:48 pm
Waltham (Mass.) Contributory Retirement System hired Sherman Actuarial Services as actuarial consultant, confirmed Joseph Juppe, executive director of the $163 million pension fund.
Sherman replaces Buck Consultants, which did not rebid. Mr. Juppe said in a telephone interview he was “floored” that Buck did not rebid, adding that the actuary from Buck working with the fund recently had taken a position at a different company.
An RFP was issued in November.
Separately, the pension plan named Dahab Associates, Kemp & Associates Retirement Services, Meketa Investment Group and Fiduciary Investment Advisors as finalists in its investment consultant search. A decision is expected at its Jan. 17 board meeting, Mr. Juppe said.
The pension fund does not have an investment consultant now. It invests through the $50.7 billion Massachusetts Pension Reserves Investment Trust, Boston, and is evaluating what it needs to do to take some of its assets out.