Illinois Education Association, Springfield, Ill., is searching for an investment consultant for its $82.2 million Taft-Hartley defined benefit plan, said Will Lovett, retirement plan chairman, in an e-mail.
The invitation-only search is being conducted as a due diligence measure and to test the market.
Incumbent consultant DiMeo Schneider & Associates, which has consulted on the plan for 17 years, is invited to rebid.
The invite-only search is being conducted using InHub’s eRFP tool.
An open-invitation RFI was previously issued.
Proposals are due by 1 p.m. EDT on July 29. Finalists will be notified on Aug. 26, with finalist presentations and a final hiring decision expected over the following two months.