Illinois State Universities Retirement System, Champaign, authorized a search for a general investment consultant, said Daniel L. Allen, chief investment officer at the $13.1 billion system.
SURS expects to issue an RFP on its website, http://www.surs.com, in July, Mr. Allen said.
Ennis Knupp, incumbent consultant for the system’s $12.4 billion defined benefit plan and $682 million 401(a) plan, can rebid, Mr. Allen said.
The system’s last consultant search was in 2005. State law requires the system to search for a consultant every five years. Also, the board, which restructured last year, wants to review consulting issues and priorities, Mr. Allen said. “It’s the prudent thing to do,” he said of the search.
The board could make a decision in December.