Dade County Public Schools Supplemental Early Retirement Plan, Miami, hired PFM Asset Management as discretionary investment adviser, according to recently released board meeting minutes.
The $25 million pension fund issued an RFP in June for a firm to provide investment consulting services as well as “discretionary implementation of investment strategy.” Information on the incumbent firm was not available by press time.
Meketa Investment Group was the other finalist.
The plan was closed to new employees on July 1, 2000, and frozen on July 1, 2003. The asset allocation as of April 30 was 61% equity, and 39% short-term fixed income and cash.
Roberto Romero, executive director in the retirement office, could not be immediately reached for further information.