Nevada Public Employees' Retirement System, Carson City, hired Aon Hewitt to perform a review of its asset management and liability management, according to recently released board meeting minutes.
The $28.7 billion pension fund issued an RFP earlier this year “for a limited scope of services comparing the management practices of the system to a broad group of statewide pension funds found in the public fund survey based on certain plan practices, statistics and policies of NVPERS, the Legislators' Retirement System, and the Judicial Retirement System.”
Also at the June 19 meeting, the board of trustees renewed the contract of actuarial consultant The Segal Co. for two years effective July 1.
Separately, the pension fund returned 12.4% in the fiscal year ended June 30. Domestic equities had the highest return for the year, at 21.2%, followed by international equities at 19.3% and private equity, 10.6%. Private real estate returned 4.8%, domestic fixed income returned -0.4% and international fixed income, -5.8%.
The actual allocation of the retirement system as of June 30 was: 44.2% domestic equities, 24.8% domestic fixed income, 18.3% international equities, 4.9% international fixed income, 4.4% private real estate, 3.2% private equity and 0.2% cash.
Phone calls to Executive Officer Dana Bilyeu and Investment Officer Stephen Edmundson were not returned by press time.