Palm Beach (Fla.) Employees’ Retirement System is reviewing its $58 million public safety pension plan, and new consultant Prime Buchholz likely will suggest asset allocation changes and searches for more investment managers, said William Crouse, director of human resources and pension administrator. Prime replaces Callan Associates; Mr. Crouse declined to comment on the termination.
The plan currently has two managers, Loomis Sayles and Roanoke, which manage both equity and fixed-income portfolios for the plan; Roanoke recently requested that it only handle equity, he said. Portfolio details were not available.
All decisions on searches and rebalancing will be made at the board’s Sept. 24 meeting, he said. The plan’s current asset allocation is 60% equity and 40% fixed income.
