Nebraska Public Employees Retirement Systems, Lincoln, hired Cavanaugh Macdonald Consulting as actuarial consultant, confirmed Phyllis Chambers, retirement systems director.
The retirement systems issued an RFP in November. Incumbent consultant Buck Consultants was invited to rebid but did not, according to Ms. Chambers. The other finalist was Gabriel Roeder Smith.
Cavanaugh MacDonald will begin its three-year contract, with an option to renew for an additional three years, on July 1.
The retirement systems had combined assets of $9.6 billion as of June 30. The Nebraska School Employees' Retirement System, Judges' Retirement System and State Patrol Retirement System, all defined benefit pension plans, are under Nebraska PERS, as are the State Employees Retirement System and County Employees Retirement System, both cash balance/defined contribution plans, and the Deferred Compensation Plan.