Montana Public Employee Retirement Administration, Helena, will start an asset-liability study sometime in the spring after the $4 billion plan hires a new executive director. The asset-liability study will be performed by investment consultant R.V. Kuhns. Officials hope to have it completed by mid-October.
The system is advertising for an executive director and hopes to make its selection by March 31, confirmed board member Carole Carey. Michael O'Connor, former director of the $4 billion plan, retired Dec. 29. A contract offer made in October to Terry Teichrow? a grant writer for the state and a former retirement board president, was withdrawn Nov. 21 after Gov. Brian Schweitzer said the board may have violated the state's open meeting laws in the process of hiring him.
Details of the executive director search are available on the plan's website, www.mpera.mt.gov. Communication and Management Services LLC, a human resources consulting firm, is assisting. The system previously worked with the Montana Department of Administration on hiring issues but decided to make a change to the private sector, Ms. Carey said.
Interim director Roxanne Minnehan, who is fiscal services bureau chief, was not available for comment at press time.