Illinois State Universities Retirement System, Champaign, is undertaking an asset-liability study, said Daniel L. Allen, chief investment officer.
SURS, which oversees $15.9 billion in defined benefit assets, is being assisted by NEPC, its investment consultant, and Gabriel Roeder Smith, its actuarial consultant.
The system could make a decision on recommendations from the study at its April 24 or June 12 meeting, Mr. Allen said in an e-mail.
SURS decided to conduct the study as “the result of a turnover in trustees since the prior study in 2008” as well as a change in its investment consultant, hiring NEPC last October, replacing Callan Associates.
SURS’ asset allocation as of Jan. 31 was 33.6% U.S. equity, 21.5% non-U.S. equity, 19.2% fixed income, 8.7% global equity, 6.5% each real estate and private equity, 3.6% Treasury inflation-protected securities, and 0.4% opportunity fund.
Its target allocation was 32% U.S. equity, 21% non-U.S. equity, 21% fixed income, 8% global equity, 7% real estate, 6% private equity, 4% TIPS, and 1% opportunity fund.