CalPERS asked its investment consultant, Wilshire Associates, to submit a proposal on how the firm will handle its contract with the $200.7 billion pension fund following the planned departure of Rosalind M. Hewsenian, Wilshire managing director, on Aug. 31, said Brad Pacheco, system spokesman.
The board of the California Public Employees' Retirement System, Sacramento, will evaluate Wilshire's proposal and make a decision whether to retain the firm in the next month or two, Mr. Pacheco said.
Ms. Hewsenian and Michael Schlachter are the key consultants working with CalPERS. It is unknown whether Wilshire will propose that Mr. Schlachter handle the relationship alone, work with another Wilshire consultant or propose an alternative arrangement.
Wilshire spokeswoman Kim Shepherd did not respond by press time to a request for comment.
