Wayne County Employees' Retirement System, Detroit, hired Titan Wealth Advisors as investment consultant.
The $1 billion pension fund's retirement commission approved the hiring at its meeting Monday, said Robert J. Grden, executive director, in an email.
The pension fund issued an RFP in January due to its retirement commission's policy to put the services up for bid every 10 years. The other finalists were current consultant AndCo Consulting, Dahab Associates and Retirement Plan Advisors.
As of June 30, 2022, the most recent data available, the pension fund's actual allocation was 43% domestic equities, 16% fixed income, 14% global equity, 13% real estate, 10% alternatives and the rest in cash equivalents.
