The restructuring resulted in the termination of two active managers.
The plan now has two high-yield fixed-income managers on watch.
The plan is searching for a manager to handle a portfolio of PBGC Special Financial Assistance assets.
The city’s current investment advisor was first hired in 2012.
The search is open to separate accounts, commingled funds and mutual funds.
The board retained its incumbent consultant after interviewing two firms.
The selected firm will provide fiduciary and investment advisory services for the plans.
The city is seeking help in developing an investment committee and investment policy statement.
The retirement plan committed to three firms following finalist interviews held yesterday.
The plan is searching for managers to handle more than $850 million.