The plan is required to go out to bid every seven years.
The plan is relaunching the search due to “issues” with its previous RFP.
The plan made hires following finalist interviews last week, concluding two RFP searches.
The plan made three follow-on commitments at this week’s board meeting.
The search is being conducted to comply with state regulations.
The selection firm will provide services such as administration, record keeping and investments.
The plan’s current consultant was hired in 2016 following a similar search.
The new manager joins two global equity managers that were hired last year.
The plan will conduct a search for multi-asset class credit investment strategies.
The plan last conducted a similar search in 2017.