PFM Advisors Named SEPTA's Pension Consultants

PHILADELPHIA, Aug. 2 /PRNewswire/ -- PFM Advisors, a division of PFM Asset Management LLC, has been awarded the pension and deferred compensation consulting contract with the Southeastern Pennsylvania Transportation Authority (SEPTA). Under the competitively-bid five-year contract, PFM Advisors will provide ongoing consulting to the two plans, which total some $800 million in assets. The firm's responsibilities will include asset allocation analysis, investment policy review, and performance/risk reporting, as well as evaluation of investment managers for the funds' portfolios.

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"We are very gratified to have received this contract," said Joe McCormick, PFM Managing Director. "We believe that PFM's combination of experience in the finances of transportation-oriented organizations as well as our deep local commitment and knowledge of this area contributed to our selection," he said.

"SEPTA wanted a firm that pays great attention to detail," added PFM Managing Director Jim Link. "PFM Advisors and PFM Asset Management have an excellent reputation, and in the current market environment, where clients are looking for both performance and stability, we think clients like SEPTA want to feel secure and confident in the experience of their financial advisors."

The Southeastern Pennsylvania Transportation Authority is a quasi-governmental authority that operates various forms of public transit -- bus, subway, elevated rail, commuter rail, light rail, trolley and trackless trolleys -- that have an average daily ridership of one million people in the combined service area: the city and county of Philadelphia, Delaware County, Montgomery County, Bucks County, and Chester County. SEPTA also serves New Castle County in Delaware, and Mercer County in New Jersey. It is the sixth-largest U.S. Transit system by ridership and employs more than 9,000 people.

PFM Asset Management LLC currently has $37 billion in assets under management for state and local governments, municipal authorities, and non-profit institutions, and provides non-discretionary advice for an additional $3.2 billion in fixed income securities.

SOURCE The PFM Group