New York State Teachers' Retirement System, Albany, is searching for a firm to provide non-discretionary general investment consulting/advisory services.
The RFP is routine, said a spokesman for the $111.1 billion pension fund. The incumbent firm, Aon Hewitt Investment Consulting, whose contract expires at the end of January 2020, is invited to rebid.
Required services include the hired firm providing "objective, creative and conflict free advice" in its role as a fiduciary, said the RFP, which is available on the pension fund's website.
Responsibilities include performing asset-liability studies and analysis, assisting with manager searches, advising the pension fund's governing board on investment guidelines and policies, and performing fiduciary education for the governing board and pension fund staff, the RFP said.
Contracts typically are for one year, with the opportunity for up to four annual extensions subject to agreement by both parties.
Proposals are due at 2 p.m. EDT on May 13. Phone interviews for semifinalists will take place in June and July; site visits for finalists will take place in July and August. Finalist interviews will take place in September and October. A contract will be awarded in November, and the contract takes effect Feb. 1, 2020.