Updated July 14, 2011
Iowa Public Employees' Retirement System, Des Moines, issued an RFP for consulting firms to provide benchmarking services for investments and administration.
The $22.5 billion system could hire more than one consulting firm.
Services would include examination of the cost effectiveness of investment and operational functions.
CEM Benchmarking provided both services. Iowa PERS issued the RFP because the CEM contract expired and “as a public agency, we periodically rebid services to … ensure we receive competitive pricing,” Judy Akre, IPERS director of communications, wrote in an e-mail. Firms can bid for either service or both.
Proposals are due July 22; a decision is expected July 28.
For investment benchmarking services, Iowa PERS wants peer group data from at least 20 defined benefit pension systems of similar size; comparison of total return by investment policy return and value added; and comparison of asset management costs by cost drivers.
The RFP is available at www.ipers.org.