Plan’s board committed $130 million to a private equity energy fund and was notified of an additional private equity commitment this week.
Plan’s new 4% target to private equity will help increase its expected return.
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.