External Fiduciary Counsel

The State Universities Retirement System (SURS) is seeking external fiduciary counsel to provide legal advice and services related to fiduciary duties owed by SURS trustees and staff. The selected vendor will provide legal advice on various fiduciary duty issues, including matters involving investments, conflict of interest situations, and Illinois law. The vendor will also attend regular meetings of the SURS Board of Trustees and Board Committees, represent SURS staff in administrative decisions, and assist in representing SURS in litigation. The contract is expected to be for a term of five years with the option to extend for two additional one-year terms. • The scope of work includes providing legal advice on fiduciary duties, public pension board governance matters, and other various legal issues. • The vendor must have a minimum of ten consecutive years of relevant experience in one or more of the in-scope service areas. • The vendor must not have material conflicts with SURS, SURS Board, or any member of the SURS staff. • The vendor must provide pricing for the initial five-year contract term and for two optional one-year renewal terms.