The current provider will see its contract expire next year.
The manager will handle the retirement plan’s entire balanced portfolio.
The plan approved two commitments for pacing purposes.
The plan also made two private credit commitments in September.
The selected firm will administer a more than $800 million plan.
The retirement system will conduct searches for domestic and global fixed-income and domestic and emerging markets equity managers.
The termination stems from underperformance and an asset allocation change.
The retirement systems are searching for a successor for the departing cio.
The retirement association’s new general investment consultant began its contract last month.
The plan’s general investment consultant will search for a new active international equity manager in the near future.