Searches And Hires
The plan’s incumbent manager is on watch for leadership changes and performance concerns.
The fund is seeking a firm to provide all program management services, including compliance, investment, administration and record keeping, after hiring a firm in 2018 at the onset of the program.
The plan has begun its searches for a stable value fund manager and a record keeper.
The plan will receive ESG manager search results in February.
The plan committed $8 million each to a private equity fund-of-funds and a managed income strategy in October.
The searches are being conducted to comply with state procurement laws.
Incumbent consultant has been handling the plan’s services on a month-to-month basis since its three-year contract expired during the COVID-19 pandemic.
The trust’s incumbent consultant is on a six-month contract.
The plan will soon issue RFPs for a stable value fund manager and a record keeper.
The search is due to the contract expiration of Empower Retirement.