The New York City Deferred Compensation Plan hired AIM Investment Management to manage a money market portfolio and Segal Consulting as an additional consultant, said Lou Porpora, contract supervisor and operations manager at the $2 billion plan.
The plan hired AIM to run $225 million in its Short Term Investment Trust Treasury Portfolio. The portfolio had been handled by the Great Western Bank California. William M. Mercer assisted.
Segal Consulting also was hired to assist Mercer in consulting duties. Segal will provide employee communication, 457 regulation consulting and conduct quarterly investment manager reviews. Mercer will advise the board on investment issues and handle searches.