The plan made two commitments for pacing purposes at today’s board meeting.
The search is due to portfolio manager changes and underperformance by the incumbent.
The retirement board was also expected to hire a new manager in its domestic small- to mid-cap growth equity manager search.
The plan is seeking a firm to provide administration, marketing and record keeping services.
The retirement plan is also expected to conduct a real estate manager search soon.
The retirement system has issued its RFP after initially approving the search in May.
The real estate commitment represents a new relationship for the plan.
The retirement system’s current manager was first hired in 2022 following a similar RFP process.
The plan also made a private credit commitment at today’s board meeting.
The agency will be responsible for managing portfolios totaling more than $2.7 billion.