New Mexico Public Employees Retirement Association on Thursday voted to launch an RFI for a general investment consultant for its pension fund and an RFP for an investment consultant for its deferred compensation plan.
Officials for the $16.3 billion pension fund are launching the RFI due to the departure of a lead consultant at Wilshire, Rose Dean, a managing director who left March 30. Ms Dean joined NEPC as a senior consultant and principal on April 3.
A review of Wilshire's "organizational chart showed many departures since 2021," a New Mexico PERA staff memo said.
New Mexico PERA issued an RFI because they had awarded the last investment consultant contract less than three years ago.
Pension fund officials plan to issue the RFI in May with a response date and selection to be determined.
In addition, New Mexico PERA officials expect to launch an RFP for an investment consultant for its deferred compensation plan. The contract of incumbent Meketa Investment Group is set to expire on Sept. 30. Plan officials plan to issue the RFP the week of May 1 with a submission deadline of June 16 and a selection on Aug. 8.
The RFI and RFP will be posted on New Mexico PERA's website.
Separately, the pension plan rescinded an RFP for a custody bank because of a low response, CIO Michael Shackleford told the board. Pension fund officials plan to issue a new RFP. A timetable has yet to be set.
