To ensure transparency, Public Act 96-0006 requires Illinois public pension plans to disclose information describing investment adviser and consultant contracts. TRS is fully committed to transparency of all information about its investment adviser and consultant contracts in accordance with the Illinois Pension Code, 40 ILCS 5/1-113.14. Investment adviser and consultant contract information may be accessed by clicking on the link below. The information is current to the last-completed and audited quarter (March 31, June 30, September 30, and December 31), and is updated quarterly. 

All investment advisers render services pursuant to written contract with the System. The attached spreadsheet lists each account managed because some advisers manage multiple accounts under one contract. To aid the System in separately tracking performance of Pension Obligation Bond (POB) proceeds received in 2003, POB accounts are also listed separately. 

Investment Adviser and Consultant Contracts (PDF)

All investment decisions, including selection of investment service providers, are made by the TRS Board of Trustees during its business meetings, which are open to the public and conducted in accordance with the Illinois Open Meetings Act, 5 ILCS 120. Fees are a fundamental consideration for all selections. Specific factors critical to the selection decision are identified for investment advisers and consultants hired after P.A. 96-0006.

Selection Factors