The commitments were made with five existing managers.
The city is seeking a firm to manage a portion of its cash portfolio.
The hires will conclude an RFP process that began in January.
The commitments include a first time relationship for the plan.
The retirement system will conduct searches for international small-cap equity, high-yield fixed-income and bank loan managers.
The searches are required to comply with state procurement requirements.
The plan’s existing general investment consultant will see its contract expire this month.
The plans hired a new consultant after interviewing four finalists last month.
The firm will provide investment consulting services, including advice on new product opportunities.
The searches result from a new strategic asset allocation.