The $1.8 billion pension fund's board voted to place the manager on watch at its Sept. 19 meeting, recently released minutes show.
The board placed the manager on watch due to organizational changes. According to board meeting materials, C.S. McKee removed its chief investment officer, Gregory Melvin, on May 21.
As of Sept. 30, the fund's actual allocation to core fixed income was 20.7%; the target is 20%.
Investment consultant Meketa Investment Group assisted.
Officials at the retirement system could not be immediately reached to provide further information.