Indiana State Teachers' Retirement System board members decided to issue RFPs for a consultant to help with a move into equities, said Robert Newland, investment officer for the $3.4 billion system in Indianapolis.
The staff will work to get the RFPs out as soon as possible, with a hiring expected within three months, Mr. Newland said. The hiring will be followed by an asset liability study, an asset allocation review and manager hirings.
A ban on public pension fund investments in equities was repealed by Indiana voters earlier this month.
