The termination stems from asset outflows and underperformance.
The search is due to personnel turnover at the pension fund’s incumbent fixed-income manager.
The state treasurer’s office appears to have relaunched its search for an investment program consultant.
The retirement system is looking to fill two newly created positions.
The authority is seeking a firm to manage its $2.2 billion portfolio.
The pension fund concluded its investment consultant search last month.
The state deferred compensation fund’s current stable value manager handles $8.3 billion.
The plan committed $20 million to the asset class for pacing purposes.
The managing director retired after more than 20 years at the firm.
The retirement system does not currently utilize an investment consultant.