The plan interviewed three finalists at its board meeting last week.
The plans’ current consultant was most recently hired in 2020.
The search is part of a state-mandated evaluation of existing managers.
The new hire is based DoubleLine’s Los Angeles office.
The ceo will retire after over 30 years with the firm.
The new president has been with the firm since 2020.
The plan also approved a $50 million investment with a new manager within its public equity portfolio at its February board meeting.
The company had been exploring ways to best preserve and maximize its over-funded status.
The plan recently trimmed its active roster by one to fund the new hire.
The firm has launched as an independent real assets investment firm focused on energy transition and infrastructure opportunities