The hiring, the board’s first external auditor, is pending contract negotiations.
The firm will audit the financial statements of the $118.9 billion FRS defined benefit pension plan and the $5.1 billion FRS 401(a) plan annually for the next five years, starting with the current fiscal year, ending June 30. Both plans are overseen by the FSBA, whose assets total $143.8 billion.
The FSBA audit committee made the decision on the hiring, the result of a request for quote issued in February.
The state auditor general’s office had conducted the audits, Mr. MacKee said.