The New York State Deferred Compensation Plan, Albany, re-hired Goldman Sachs Asset Management to be its stable value structure manager.
The plan's governing board voted Friday to approve the five-year contract starting Oct. 1, subject to contract negotiations, David Fischer, the plan's executive director wrote in an email.
GSAM is the incumbent stable value manager, but plan rules require that consulting jobs be subject to RFPs every five years, Mr. Fischer said.
As of Jan. 31, stable value assets represented $8.9 billion — or 28% — of the plan's $31.28 billion in assets.
