On Monday, the Police and Fireman’s Retirement System of New Jersey (PFRSNJ) Board of Trustees held its regularly scheduled meeting.
The Executive Director Gregory Petzold expressed support for the Board to issue an RFP for an independent auditor for asset inventory and allocation. Additionally, he reported a request for the addition of four new hires to assist current staff and with membership issues. The hires include a technological officer, research analyst 2, and two research analyst trainees.
The CIO/CFO Mark Schafer reported that to date the fund is $34.7 billion. The fund has a strong performance and reserves. With the report of a strong performance and reserves, a request was made for the Board to consider a resolution to create a special asset allocation fund.
Subsequently, the Board adopted resolutions for new hires and amended asset allocation policies citing policy changes to fit long term strategies to manage the fund.
The next scheduled meeting is July 14, and the League will provide updates as necessary.
Contact: Erin Knoedler, Legislative Analyst, eknoedler@njlm.org, x116.