CalSTRS investment committee members called for a restructuring of an RFP, previously scheduled for November release, for a general pension consultant. Trustees want the RFP rewritten to indicate that two consultants may be hired by the $84 billion California State Teachers' Retirement System, Sacramento.
They also want to emphasize the consultants' abilities to define an asset allocation strategy. Gary Lynes, investment committee chairman, stressed he wants to consider as many consultants as possible.
If the rewritten RFP is approved next month, it should go out in December, said CIO Pat Mitchell.
Pension Consulting Alliance, the fund's current general pension consultant, is expected to rebid.