Florida State Board of Administration, Tallahassee, hired Callan Associates as investment services consultant for the system’s new defined contribution program, said Barbara Jarriel, director of fixed income at the $103 billion system.
Board trustees and the state Legislature plan to appoint seven people to an advisory committee responsible for deciding the basic structure of the program, Ms. Jarriel said. The committee is scheduled to develop an investment policy statement for the trustees by the end of the month.
