The consultant will advise on four retirement funds.
The retirement fund also adopted a new long-term strategic asset allocation.
The two firms will handle a total of more than $2.5 billion.
The retirement association conducted a search to potentially replace Western Asset Management.
The plan also made a private equity commitment in the second quarter.
The plan added the core-plus fixed-income asset class earlier this year.
The plan is looking to hire one firm to replace two existing fixed-income managers.
The plan’s current consultant was first hired over 20 years ago.
A total of four firms were interviewed at a board meeting today.
The city is looking for a discretionary manager for its $350 million portfolio.