Ohio State Teachers Retirement System, Columbus, is considering hiring separate general investment consultants for its $83.4 billion defined benefit plan and $2.6 billion 401(a) plan, spokesman Dan Minnick said.
The retirement system issued an RFP in May due to the impending expiration of the contract of general investment consultant Callan, which provides services for both the retirement system’s DB plan and DC plan.
During the RFP process, the board decided to explore having separate general investment consultants for the DB plan and DC plan.
Callan is a finalist for both searches, along with Aon Investments USA, Meketa Investment Group and Wilshire Advisors. All finalists made presentations at the system’s Sept. 20 investment committee meeting for the DB plan services and will make presentations for the DC plan services at the Oct. 18 meeting. Selections are expected shortly thereafter.
As of June 30, the DB plan’s actual allocation was 26% domestic equities, 21.9% international equities, 20.8% alternative investments, 20% fixed income, 9.8% real estate and 1.5% liquidity reserve.
The target allocation is 26% domestic equity, 22% international equity, 22% fixed income, 19% alternative investments, 10% real estate and 1% liquidity reserve.
The 401(a) plan offers 17 investment options. Nationwide Financial is the record keeper.
