South Dakota Retirement seeks actuarial consulting services

South Dakota Retirement System, Pierre, is searching for actuarial consulting services for the $12.2 billion pension fund.

The initial term of the contract will cover five years starting July 1.

The search is being conducted because the pension fund's contract with its current actuarial services provider, Buck Consultants, will expire June 30, said Dawn Smith, executive assistant. Buck is invited to rebid.

The RFP is available on the retirement system's website. Proposals are due 5 p.m. CST March 1. A selection is expected to be made in April.

The state retirement plan returned a net 7.94% for the fiscal year ended June 30. Its asset allocation as of June 30 was 32% cash, 28% global equity, 13% investment-grade fixed income, 11% high-yield fixed income, 8% private equity, 7% real estate and 1% absolute return.