Nevada State Treasurer’s Office, Carson City, hired Pension Consulting Alliance as investment consultant of its $13 billion Nevada College Savings Trust Fund and $178 million Nevada Higher Education Prepaid Tuition Trust Fund, said Mark Mathers, chief deputy treasurer, in an e-mail.
PCA is the current consultant of the college savings program, while Callan Associates is the current consultant of the prepaid tuition fund. Callan was invited but did not bid for the services, Mr. Mathers said.
The treasurer’s office issued an RFP in April due to the upcoming expirations of Callan’s and PCA’s contracts on Dec. 31; it considered both a single consultant for both programs and continuing with separate consultants.
Wilshire Associates was the other finalist.
A four-year contract is scheduled to begin on Jan. 2, 2015.