Illinois Teachers' Retirement System, Springfield, is searching for an actuarial consultant to provide actuarial valuations and other services to the $37.5 billion pension fund for three years beginning July 1.
Buck Consultants, the incumbent, has provided actuarial services to the teachers' plan since 1988 and is allowed to rebid, said David Urbanek, a spokesman for the pension fund, in an e-mail. The pension fund is putting the contract out for bid according to its regular internal process, Mr. Urbanek said.
The RFP is available on TRS' website. Proposals are due Feb. 25. Finalists will be selected by staff in April, and the full board will select an actuarial consultant at its May 22-24 meeting.