Illinois Teachers' Retirement System, Springfield, is searching for an investment consultant for its new optional supplemental defined contribution plan, spokesman Dave Urbanek said in an email.
The $49.1 billion retirement system issued the RFP for a consultant to assist in the implementation of the DC plan structure, assist in the search for a record keepers for the plan, and construct and maintain an investment program, the RFP said. The new optional DC plan was created by state law in August.
The RFP is available on the pension fund's website. Proposals are due at 2 p.m. CDT on April 19. A selection is expected in May or June.