The transaction was first announced in November.
The plan will conduct a target-date fund manager search to potentially replace an existing mandate.
The plan issued two RFPs for managers to comply with procurement laws.
The plan hired Neuberger Berman at today’s board meeting following an RFP search.
The plan terminated two existing managers and added commitments totaling roughly $912 million in October.
Plan approved a search for a domestic small-cap value equity manager due to organizational changes at its incumbent firm.
Plan made a change in passive large-cap core equity providers last quarter.
The plan is nearing the conclusion of its domestic small-cap equity and fixed-income manager searches.
Plan terminated its domestic small-cap value equity manager due to the firm’s investment team spinning out to form a new entity.
The plan committed a total of $175 million to two funds and hired an unnamed domestic equity manager at its meeting last week.