The current provider will see its contract expire next year.
The plan issued an RFP in December after its previous outsourced cio was acquired.
The consultant will advise on four retirement funds.
The retirement fund also adopted a new long-term strategic asset allocation.
The two firms will handle a total of more than $2.5 billion.
The retirement association conducted a search to potentially replace Western Asset Management.
The plan also made a private equity commitment in the second quarter.
The plan added the core-plus fixed-income asset class earlier this year.
The plan is looking to hire one firm to replace two existing fixed-income managers.
The plan’s current consultant was first hired over 20 years ago.