Pennsylvania State Employees' Retirement System, Harrisburg, hired Callan as general investment consultant for its three retirement plans and selected Metropolitan Life Insurance Co. as the annuity option provider for the soon-to-launch defined contribution plan, PennSERS spokeswoman Pamela Hile confirmed in an email.
Callan will provide non-discretionary general investment consulting services for the state’s $29.8 billion defined benefit plan, its $3.6 billion deferred compensation plan and its DC plan that will launch in January.
Callan responded to an RFI issued in July and will replace incumbent RVK when its contract with the state expires in April.
