Milwaukee Employes' Retirement System probably will perform an...

Milwaukee Employes’ Retirement System probably will perform an asset-liability study and asset allocation review after Jennifer Shannon, newly hired pension financial manager, is on board, said Kathy A. Stover, executive director for the $3.8 billion fund. Ms. Shannon, who is expected to start Feb. 1, also may be asked to look at the fund’s equity structure, Ms. Stover said. Ms. Shannon previously worked as an independent contractor to BankBoston Robertson Stephens, Ms. Stover said. She replaces Patrick Cronin, who joined Robert W. Baird.