Illinois State Universities Retirement System, Champaign, is searching for a non-discretionary general investment consultant for its $23.9 billion defined benefit plan.
The retirement system issued an RFP due to state law that requires the system to put the services up for bid every five years, said Beth A. Spencer, SURS spokeswoman, in an email.
Current consultant Meketa Investment Group is invited to rebid, Ms. Spencer said.
As of April 30, the pension plan's actual allocation was 34.5% traditional growth (equities); 19.7% crisis risk offset (systematic trend, long-duration bonds, alternative risk premiums, Treasury bills); 16.8% stabilized growth (options, core real assets, credit); 15.2% non-traditional growth (non-core real estate, infrastructure, real estate debt, non-core farmland, private equity); 8.3% principal protection (fixed income); 4.9% inflation-sensitive securities; and 0.6% cash.
The RFP is available on SURS' website. Proposals are due at 4:30 p.m. CDT on Aug. 31. A selection is scheduled for Dec. 8.