US - Two pension funds based in Georgia are looking for a new investment consultant.
The $39.7bn Teachers Retirement System of Georgia (TRSGA) and the $13.5bn Employees' Retirement System of Georgia (ERS) are looking for a new consultant to provide various investment services.
Both funds expect the selected consultant to assist them with an asset allocation study; the measurement of investment returns; fund manager evaluation, and the analysis of investment management style, policies and objectives.
The closing date for applications is October 26, and an appointment is expected in December.
*Created in 1943 by the Georgia General Assembly, the defined benefit (DB) TRSGA provides retirement benefits for the state's teachers. The DB ERS was established in 1949 to provide pensions and other benefits for the State's employees.
The ERS also covers four other Georgia pension funds and an insurance fund. The five funds are the DB Public School Employees Retirement System (PSERS); the DB Georgia Legislative Retirement System (GLRS); the DB Georgia Judicial Retirement System (GJRS); the Georgia Defined Contribution Plan (GDCP), and the State Employees Assurance Department (SEAD).
TRSGA and ERS both use common investment staff in addition to using common accounting staff. Day to day responsibility for the TRSGA's assets and the ERS pooled trust fund lies with the state's Division of Investment Services (DIS).
By Geoffrey Ho
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