Iowa Public Employees' Retirement System, Des Moines, issued an RFP seeking investment consulting services.
The search is being conducted to comply with state law requiring that service contracts must be put up for bid every six years, said Shawna Lode, spokeswoman for the $39 billion pension fund.
Wilshire Associates is the current consultant and is welcome to rebid.
IPERS' current strategic asset allocation targets are 26% core-plus fixed income, 22% U.S. equity, 17.5% international equity, 13% private equity, 7.5% private real assets, 6% global smart beta equity, 4% public credit, 3% private credit and 1% cash.
The RFP is available on IPERS' website. Proposals are due by 4 p.m. CDT May 7. The board will likely decide on a consultant in July or August, depending on how many proposals it receives, Ms. Lode said.