Plan is seeking one to three global ex-U.S. equity managers and agreed to restructure its opportunistic and alternative fixed-income portfolios this month.
The plan placed a firm on watch for failing to meet performance criteria and eliminated its REITs managers to reduce overall volatility within its real estate portfolio.
The plan had moved to a fully passive large-cap allocation in 2020 but general investment consultant Meketa Investment Group sees an opportunity for concentrated active managers.