As cash manager, BlackRock runs about 5% of the assets in the plan's stable income fund, which now has about $6 billion. BNY Mellon, Payden & Rygel and J.P. Morgan Asset Management (JPM) were also finalists.
BNY Mellon and Northern Trust were finalists in the transition manager search.
The rehire is subject to negotiations, and the contracts are expected to be for 10 years, Mr. Lilly said in an e-mail.
RFPs were issued in October.