The plan is seeking open-ended fund managers to handle $45 million.
The plan also named finalists in its non-core real estate and private credit searches.
The termination, which was recommended by the plan’s general investment consultant, stems from performance reasons and a key personnel departure.
The plan took action on two search reports provided by its general investment consultant at its board meeting this week.
The new hire joins the plan from a national investment consulting firm.
The current consultant will see its contract expire next year.
The upcoming search complies with standard state procurement laws.
The search is due to the upcoming retirement of its executive director in April.
The new consultant will begin its new five-year contract in February.