New York City Names New Chief Pension Adviser

NYC Mayor Bill de Blasio on Monday appointed John Adler to the post of chief pension investment adviser.

Adler will preside over the city’s five public retirement funds, conducting investment research and providing advice to the trustees who sit on the boards of the funds.

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Mr. Adler most recently had been director of the retirement security campaign for the Service Employees International Union. “He managed all aspects of SEIU’s retirement security program, including public pension funds, Taft-Hartley pensions, Social Security, and private-sector plans,” the news release said.

The office of pensions and investments serves as full-time adviser to mayoral appointees to the boards of each of the five public pension funds that make up the $158.7 billion New York City Retirement Systems and on the board of the $14.9 billion New York City Deferred Compensation Plan.

Mr. Adler’s duties include conducting research “on all relevant investment issues that impact the portfolios,” the news release said. He will provide the mayor’s representatives on the five boards and the deferred compensation plan board “with timely investment reviews, reports and presentations, so that they may make recommendations on asset allocation and investment strategy,” the news release said.

NYC’s five public pension funds collectively manage $158.7 billion in assets.

Photo by Tim (Timothy) Pearce via Flickr CC License