At its Feb. 10 meeting, the board of the Tacoma (Wash.) Employees' Retirement System (TERS) rehired Wilshire as its investment consultant, following an RFP issued in December 2021.
Wilshire was brought on for a three-year contract for investment consulting services, with two one-year optional extensions, according to Tim Allen, CIO of TERS. The assignment was previously rebid through an RFP process in 2011.
The other finalists in the search were Callan and Meketa. Wilshire has been the investment consultant for TERS for more than two decades.
TERS has a 10 percent strategic asset allocation target to private real estate. The pension fund’s interim targets are 5 percent private real estate and 4 percent U.S. REITs. At the end of 2021, actual weights were 5.2 percent private real estate and 4 percent U.S. REITs.
“We are well along in our evaluation process and have been working with Wilshire on this change,” said Allen in an email.
