A decision by state Treasurer Denise Nappier, the principal fiduciary of the system, is “forthcoming,” said Jonathan Harris, deputy state treasurer, in an interview.
Mercer’s contract expires June 30. Mercer announced in October that it was no longer offering general consulting services to public defined benefit plans.
Connecticut issued an RFP in December. Ten firms responded, according to a May 4 report from Ms. Nappier to the Investment Advisory Council, which advises the treasurer on investment policies. Five firms were interviewed by treasury department officials in April. Ms. Nappier, who has the final say on selecting a firm, decided to eliminate three, according to her May 4 report.
Hewitt EnnisKnupp and Russell Investments both have “a robust asset/liability management function, capital market assumption process, ability to provide risk management reporting, and a formal due diligence process,” Ms. Nappier’s report said.