The retirement association has hired an investment officer from the private wealth management space.
The retirement system will conduct a search for three fixed-income mandates.
The selected firm will provide the services for four retirement plans.
The plan’s current consultant is nearing its 10-year term limit.
The plan has also terminated an underperforming international equity manager.
The plan has placed a domestic small-cap value equity manager on watch due to consistent underperformance.
The managing director had been a key person for at least one public pension client.
The new hire will provide institutional expertise in private markets to individual investors.
The plan’s current consultant will see its contract expire.
The retirement system last conducted a similar search in 2018.