Illinois State Universities Retirement System, Champaign, issued an RFP for a general investment consultant for its $12.1 billion defined benefit fund and $667 million 401(a) defined contribution fund.
Ennis Knupp, the incumbent investment consultant to both funds, can rebid.
SURS issued the RFP because state law requires the system to search for a consultant every five years; its most recent search was in 2005. In addition, the SURS board, restructured last year, wants to review consulting issues, according to Daniel L. Allen, chief investment officer.
Proposals are due Aug. 12. The SURS board could make a decision Dec. 9.