The plan will soon issue RFPs for two investment consulting services providers.
The commission has concluded that a confluence of events involving several parties resulted in the theft of $3.5 million from the retirement system.
The program is searching for an investment consultant after its official launch this year.
The plan hired a new general investment consultant after interviewing three finalists.
The termination follows a recent downgrade from the plan’s investment consultant.
The firm will now manage approximately $40 million in the plan’s main portfolio.
The customized mandate will allow the plan to invest across the firm’s platform.
The plan committed to three buyout funds with existing managers.
The plan expects to issue RFPs for two investment consultants in November.
The plan hired two duration specialists at its board meeting today.