Los Angeles City Employees taps Cortex Applied Research for evaluation, transition

Los Angeles City Employees' Retirement System hired consultant Cortex Applied Research to assist the board with its annual evaluation study as well as the transition surrounding the retiring general manager, according to minutes from the June 13 meeting.

The evaluation study looks at the efficacy of the board and could involve review of policies and board committees.

The transition will look at how to replace Thomas Moutes, LACERS' general manager, who is retiring. No date for his departure has been set.

Separately, Cortex, Mosaic Governance Advisors and Funston Advisory Services were hired to provide as-needed governance consulting for the board of the $15.8 billion pension fund. The board had issued an RFQ in April.