Arizona Office of the Auditor General, Phoenix, hired Gallagher Fiduciary Advisors to conduct a performance audit of the $33.7 billion Arizona State Retirement System and $8.1 billion Arizona Public Safety Personnel Retirement System, both in Phoenix, said Laura Long, performance auditor, in an e-mail.
The office issued an RFP in August due to the state requirement that a performance audit take place every 10 years.
The performance audit will determine the investment performance of both pension funds from 2005 to 2014 and “identify the causes for and impact of any underperformance and make recommendations for improving (performance),” the RFP said.
The final report will be due Sept. 30.
Ms. Long did not say whether there were any other finalists.
