Colorado Public Employees’ Retirement Association, Denver, selected the Northern Trust Institutional Government Select mutual fund as an option for its $1.6 billion 401(k) plan and $2.8 million 401(a) plan, said spokeswoman Katie Kaufmanis. The Northern Trust fund, which invests in U.S. government securities only, replaces the Northern Trust Short Term fund to “protect participants from credit risk in the market,” Ms. Kaufmanis said in an e-mail. The fund holds $130 million of Colorado assets.
Investment consultant R.V. Kuhns assisted in the search; no RFP was issued. Colorado PERA’s total assets of $40 billion are found mostly in its defined benefit plan.
