Pennsylvania State Employees' Retirement System, Harrisburg, is seeking expressions of interest from technical financial consultants, confirmed Pamela Hile, a spokeswoman for the $26.5 billion pension plan.
SERS is seeking a consultant to provide both an independent review of the plan's due diligence process within its investment program as well as advice on how to proceed with regard to allegations.
This search is following the early retirement of Anthony S. Clark, SERS chief investment officer, and the resignation of Chairman Nicholas Maiale, amid allegations against Mr. Clark of possible misconduct.
A copy of the request can be obtained by e-mailing [email protected].
Proposals should be sent via mail to Commonwealth of Pennsylvania State Employees' Retirement System, c/o Internal Audit Division, Attn: Independent Due Diligence Review/Process Recommendations, 30 N. Third St., Suite 150, Harrisburg, PA 17101-1716; as well as via e-mail to [email protected].
Responses are due by 3 p.m. EST on Jan. 10. A selection date could not be learned.