Illinois Teachers' Retirement System, Springfield, is searching for an investment consultant for its 457(b) Deferred Compensation Supplemental Savings Plan.
The system has issued an RFP because the contract with its current consultant is expiring later this year, according to a Sept. 11 news release. The current firm is invited to rebid, the news release said.
According to recent meeting minutes, the current consultant is CAPTRUST Financial Advisors.
The optional 457 plan was created by state law in August 2019 and began to receive contributions from participants in March 2022. The plan as of August had almost 1,500 participants and $9 million in assets, according to the RFP.
The RFP is available on TRS' website. Proposals are due at 2 p.m. CDT on Oct. 3. Finalist presentations are scheduled for Dec. 12-13 with a selection due shortly thereafter.
TRS spokesman Dave Urbanek could not be immediately reached for further information.