Greenwich (Conn.) Town Retirement System will undertake an asset-liability study of its $290 million pension plan, said Charnel K. Benner, pension coordinator. New consultant New England Pension Consultants will conduct the study, and manager searches may result, she said.
Frank Russell ran all of the funds assets in a manager-of-managers program; plan officials decided they wanted a consultant to oversee the plans managers, Ms. Benner said. Frank Russell was a finalist in the search and will continue to handle the assets for three to twelve months, depending on how long the transition takes, she said.
The plans asset allocation is 60% equity and 40% fixed income.