Nevada Public Employees’ Retirement System, Carson City, hired Wilshire Associates as a project consultant to perform a “second option” review of the $34 billion pension fund’s investment program, said Steve Edmundson, investment officer.
The hire is the result of the pension fund’s internal policy to hire an independent, third-party consultant to perform such a review of the investment program every 10 years, Mr. Edmundson said.
The firm that did the review 10 years ago, Independent Fiduciary Services, was acquired in 2011 by GBS Investment Consulting, an investment advisory unit of Arthur J. Gallagher & Co.
Wilshire’s review is scheduled to be completed around June, Mr. Edmundson added.
Callan Associates is the pension fund’s current investment consultant.