The trust’s incumbent consultant is on a six-month contract.
The plan approved a commitment to one of its strongest asset class.
The plan will soon issue RFPs for a stable value fund manager and a record keeper.
The search is due to the contract expiration of Empower Retirement.
The plan committed to two managers following closed session discussions.
The plan has issued the RFPs after approving the searches last month.
The plan will search for a new core-plus fixed-income firm after recent asset losses and a change in ownership experienced by its incumbent manager.
The plan approved committing $90 million across three private debt managers.
The plan also disclosed a pair of private markets commitments.
The plan will conduct searches for core and non-core real estate managers.