Tulare County Employees' Retirement Association, Visalia, Calif., issued an RFP seeking investment consulting services for the $1.6 billion plan.
The plan's board approved issuing the RFP in September because current consultant Verus Advisory has been the plan's investment consultant for 10 years. The plan's board approved issuing the RFP in September because it "felt it was incumbent upon them to ensure that they are adequately informed regarding investment consulting services available," wrote Leanne Malison, retirement administrator, in an email.
Verus is invited to rebid.
The plan has a target asset allocation of 27% to fixed income, 25% domestic equities, 20% real assets, 15% international equities, 5% each private equity and private credit, and 3% global equities.
The RFP is available on TCERA’s website. Proposals are due Jan. 22. Finalists are scheduled to be interviewed by the board April 28.