The Missouri State Employees' Retirement System, Jefferson City, is searching for a board investment consultant.
The $8.4 billion MOSERS issued an RFP to identify a board investment consultant that will "provide advisory and oversight services directly to the board of trustees" and "assist the board in overseeing the system's investment management functions, developing investment policy, and execution of board-approved investment policy," according to a notice on MOSERS website.
According to the RFP, the board investment consultant may be a firm or an individual and serve for a four-year term with the possibility of two one-year renewals.
The board investment consultant will act solely on behalf of the board and will not provide advisory services to management and investment staff of MOSERS, the notice indicated.
According to the RFP, Verus Advisory is MOSERS' current board investment consultant. The RFP stated: "The parties have executed a month‑to‑month extension to extend the contract term from April 27, 2023, until September 30, 2023, at the latest."
The RFP also noted that consultants currently contracted with MOSERS for investment consulting may submit a proposal for consideration for board investment consultant services. However, if awarded a contract under this RFP, the consultant would no longer be eligible to perform other investment-related services for MOSERS staff, and MOSERS would consider the acceptance of such award as the successful respondent's notice of termination for its previously existing investment consulting contract.
The RFP is available on the pension fund's website. Proposals are due by 5:30 p.m. EST on April 10. Finalists will be interviewed by the board on June 21-22.