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.
A total of four firms were interviewed at a board meeting today.
The city is looking for a discretionary manager for its $350 million portfolio.
The plan is looking to invest $350 million with multi-strategy hedge fund-of-funds managers.
The plan committed to three private equity funds following finalist interviews at a meeting today.