Updated with correction
San Jose (Calif.) Federated City Employees Retirement System and San Jose Police & Fire Department Retirement Plan will interview general investment consultant finalists at their respective board meetings in December and January, said Arn Andrews, the pension funds' chief investment officer.
The pension funds issued an RFP in May because of the pending expirations of the contracts of the current investment consultants. Meketa Investment Group assists the $2 billion federated plan and NEPC, the $3 billion police and fire fund.
Staff recommended at the pension funds' Oct. 27 joint investment committee meeting to hire Verus Advisory as investment consultant for both pension funds. The committees voted for finalists to make presentations at the Nov. 24 meeting. At the November meeting, the committees voted to send Verus and the current consultants to make presentations at board meetings. Mr. Andrews said the federated plan's committee is sending a recommendation to retain Meketa.
Verus and Meketa will make presentations at the federated city employees' board meeting on Dec. 19; Verus and NEPC will make presentations at the police and fire board meeting on Jan. 7.
Decisions by the boards are expected shortly after those meetings.