Oakland (Calif.) Police and Fire Retirement System picked Independent...

Oakland (Calif.) Police and Fire Retirement System picked Independent Fiduciary Services to conduct a management audit of the $590 million pension fund, said Yvonne Hudson, manager of retirement benefits. Ms. Hudson said an audit was called for because of a "changing of the guard" within the city's human resources department. IFS will evaluate the fund's investment structure, the roles of staff and board, internal controls and other governance issues, she said.