Illinois State Universities Retirement System, Champaign, issued an RFP in a search for a consultant for governance, risk and compliance assessment services.
“The idea is all about compliance best practices,” said William E. Mabe, interim executive director.
It is the first time the pension fund has sought such services, Mr. Mabe said.
SURS, which oversees $16.7 billion in defined benefit and $1.7 billion in defined contribution assets, wants a consultant’s focus to include identifying and assessing risks, including related to strategic and operational risks, and developing a plan to mitigate and report on the risks, according to the RFP.
The RFP is available on SURS’ website. Responses are due Aug. 15. The board expects to make a decision at its meetings Sept. 15-16.