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The plan is seeking an executive search firm to hire a replacement for David Hunter, who resigned last month.
He will be heavily involved in risk management, quantitative models and data efforts.
The plan chose a new firm to serve as its third-party administrator last month.
The previous winner’s hire was negated by the state agency.
The plan added a commitment with a new global infrastructure manager.
The recommendations will now be brought to the Securities and Exchange Commission for further discussion.
The plan’s consultant conducted a search last quarter due to organizational changes.
The search is due to the upcoming contract expiration of the plan’s current provider.
PFM Asset Management will continue to operate as a separate entity and PFM’s financial advisory business is not included in this acquisition and will continue to operate independently.
The transaction is expected to close by the end of the year.