District of Columbia Retirement Board hired EFI as actuarial consultant, replacing Milliman USA. The systems contract with Milliman expires June 30, 2004, but the $2 billion system was allowed to terminate the contract at any time.
Separately, the board hired Sands Capital Management to run $50 million in active domestic large-cap growth equities, said Betty Ann Kane, executive director. Funding will come from cash.
Watson Wyatt Worldwide assisted.