Three New Mexico state pension funds are expected to provide information about their investment management and transparency to a state task force by Nov. 28, said Frank Foy, CIO of the $1.3 billion New Mexico Educational Retirement Board, who sits on the task force. The task force, appointed by Gov. Bill Richardson, is investigating the educational fund, along with the $12.9 billion New Mexico State Investment Council and the $10.5 billion Public Employees' Retirement System of New Mexico, all in Santa Fe, following the indictment of the former state Treasurer Robert Vigil, who had been on all three boards. Federal prosecutors allege that Mr. Vigil took kickbacks from investment advisers.
Mr. Richardson formed the task force to ensure transparency of the pension plans' investment processes and to recommend changes in the way the treasurer's office manages the state's investments.