Lincoln Financial Group ranked above incumbent Nationwide Retirement Solutions following finalist interviews.
Plan’s board considered terminating an emerging markets value equity manager and disclosed several alternative commitments and manager terminations last month.
New executive director was selected over three other semifinalists following interviews this week.
The department is seeking investment providers for its voluntary retirement savings program, which consists of three defined contribution plans.
Plan’s incumbent tangible assets consultants were the only respondents to an RFQQ issued in February.
Plan is in the process of finding a replacement for Robert Clark.
Plan selected two finalists in its emerging markets small-cap equity search and added a real assets commitment for pacing purposes today.
The plan hired a new target-date fund manager in an effort to cut costs and improve performance.
The new retirement administrator will join the plan in June from the Fire & Police Pension Association of Colorado.
Plan will discuss potentially implementing a dedicated allocation to Pan-Asian assets over the next year.