Oklahoma Public Employees Retirement System, Oklahoma City, voted to rehire Verus Advisory as its investment consultant, said Joseph Fox, the retirement system's executive director, in an email.
The decision was made at a board meeting April 21 following a request for proposals issued Feb. 18 that drew two other firms: Meketa Investment Group and Wilshire Advisors.
"After a lengthy staff review, the Verus proposal represented the best overall value proposition for the system," Mr. Fox said.
The board also hired Gabriel, Roeder, Smith & Co. to conduct a due diligence actuarial audit of its current actuarial consultant, Cavanaugh Macdonald Consulting, Mr. Fox said. An RFP was issued Feb. 1
As of March 31, Oklahoma PERS had $12 billion in assets in its defined benefit plan, and the actual asset allocation was 42.7% U.S. equity, 29.6% fixed income, 27.3% international equity, 0.3% cash and 0.1% real estate.
