State of Illinois Employees' Deferred Compensation Plan, Springfield, will issue an RFP for three funds - lifestyle fund, active domestic large-cap value and active domestic core equity - to be investment options for the $2 billion plan, said William Atwood, executive director of the Chicago-based Illinois State Board of Investment, a fiduciary to the plan. Two options would be new; core equity is already available to participants in the Fidelity Fund. Fidelity can rebid, Mr. Atwood said. A date to issue the RFPs has not been set; inquiries should be directed to newly hired consultant, Iron Capital Advisors, he said. Iron Capital Advisors was hired on a one-time basis for the search, he added. The board expects to select funds in March.
The moves will raise the plan's investment options to 14. Fidelity manages one other option for the plan, the Fidelity Puritan Fund, a balanced fund. T. Rowe Price, the record keeper, manages two of the investment options.
