The plan last conducted a similar search in 2021.
The authority’s investment portfolio is currently held in money market funds and various U.S. securities.
The plan also made two private markets commitments last month.
The firm will manage a total of $70 billion between the two corporate plans.
The plan will fund a new passive manager by redeeming an active one within its international equity portfolio.
The plan interviewed two finalists in its third-party administrator search.
The promotion is the latest personnel reshuffling at the institutional consulting firm.
The new managing director will assist with the plan’s total portfolio approach.
The retirement system last conducted a similar search in 2019 due to regulatory requirements.
The retirement system selected a new executive director following the resignation of its former director.