Searches and Hires

Illinois seeks consultants for state university 403(b) plans

The Illinois Public Higher Education Cooperative, Champaign, Ill., is searching for one or more consultants for university 403(b) plans, said an RFP on the state's higher education procurement website.

The selected firm or firms will "provide annual monitoring services, evaluation and recommendations for investment vendors and investment option offerings" for Illinois public universities' 403(b) plans, according to the RFP.

Each of the nine universities that participate in IPHEC — Chicago State University, Eastern Illinois University, Governors State University, Illinois State University, Northeastern Illinois University, Northern Illinois University, Southern Illinois University, the University of Illinois and Western Illinois University — sponsors its own 403(b) plan. Plan assets for five of the nine universities totaled about $2.1 billion as of Dec. 31; assets were not disclosed for Chicago State University, Eastern Illinois University, Governors State University or Western Illinois University.

The search is being conducted due to an expiring contract, said a spokeswoman for the University of Illinois. Further information, including the incumbents, could not immediately be learned.

The RFP is available on the state's higher education procurement website. Registration is required. Proposals are due by 3 p.m. CDT on Oct. 5. There is no targeted hiring date.