IPERS considering in-house management of retirement funds
DES MOINES — IPERS officials told Iowa lawmakers it likely will be next year before they ask for legislative changes to allow in-house management the $30 billion public employee retirement fund.
IPERS, the Iowa Public Employee’s Retirement System, is in “preliminary discussion” of what it is calling internal investment management.
Currently, IPERS contracts for outside management of its funds. But CEO Donna Mueller and Chief Investment Officer Karl Koch told the House State Government Committee on Tuesday they believe millions of dollars could be saved annually through in-house management of investments.
However, they added, the change would require “significant” startup investment as well as trading, accounting and control infrastructure.
Read more: http://wcfcourier.com/news/local/govt-and-politics/ipers-considering-in-house-management-of-retirement-funds/article_8bd94e18-3b01-51cd-ae5a-915089fa8b02.html