Searches And Hires
The commitment represents a new relationship for the plan.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group after receiving an annual share class review in February.
Plan also expects to receive an international value equity manager search update form its consultant later this month.
The plan liquidated its inhouse passive global equity mandate and made $1.6 billion in total commitments in April.
The secure choice savings program was created in 2021.
The plan established a 2% allocation to the asset class earlier this year.
Plan added a $50 million commitment to an existing manager relationship.
The plan hired a new manager for domestic large-cap growth equities during a meeting today.
Plan is conducting an RFP for investment and plan design consultant services.
Plan added $315 million in alternatives commitments with existing manager relationships last week.