Firm will establish and actively manage a fixed-income portfolio with core and intermediate strategies.
City is searching for a third-party administrator for its 403(b), 403(b)(7) and 457 deferred compensation plans.
The plan is looking to invest in private debt for the first time.
Investment advisor will oversee the system’s 403(b) plan and two 401(a) defined contribution retirement plans totaling $5.8 billion in assets.
The plan last conducted a search in 2015.
The plan is conducting the search in anticipation of its incumbent’s contract expiration.
The plan is looking to invest $8 million in the asset class for the first time.
Plan will seek infrastructure managers to complement its existing portfolio.
The plan last conducted a similar search in 2017.
The plan has not conducted a search since it hired its incumbent consultant 20 years ago.