Oklahoma Public Employees Retirement System, Oklahoma City, is searching for an investment consultant, confirmed Tom Spencer, executive director.
The $6.5 billion retirement system's board approved issuing an RFP at its Thursday meeting. The services sought are for general investment consulting to the OPERS plan, a smaller defined benefit plan for state judges with $237 million in assets, and the two deferred compensation plans, with a total of $625 million in assets, administered by OPERS.
Incumbent consultant Strategic Investment Solutions is invited to rebid. Its contract expires June 30.
Mr. Spencer said the consultant search — available online — is part of a regularly scheduled search the retirement system conducts about every five years. Proposals are due Dec. 16.
Separately, the board narrowed searches for record-keeping services and a stable value fund option for its $493 million SoonerSave 457 and $132 million 401(a) savings plans to two finalists, Great-West Life and Prudential. Great-West has held both contracts since 2001. Mr. Spencer said a recommendation and approval are expected at the board's next meeting on Jan. 19. The contracts start July 1.