The search is part of a periodic review of managers.
The plan is seeking objective independent investment and administration advice.
The plan rehired its incumbent domestic large-cap value equity manager following finalist interviews at a special board meeting held today.
The plan’s incumbent consultants had their contracts renewed until early 2024.
The plan is conducting a mid-cap value manager replacement search as its incumbent manager has lost assets and the plan’s assets made above 40% of the investment product.
The plan is searching for two emerging market debt managers and one high-yield fixed-income manager.
The contract of the plan’s incumbent high-yield fixed-income manager will expire this year.
The search follows the resignation of the executive director earlier this week.
A total of up to $1.5 billion is expected to be awarded in the search.