The State intends to secure a contract for private equity investment consulting services for the System, which is administered by the State. System provides retirement coverage to state employees, teachers, and employees of political subdivisions that have elected to participate in the plan. In addition to a substantial portion of investments that are managed internally, System has contracts with various vendors to provide external management and support of its investments. As of December 31, 2009, System had a total portfolio size of approximately $29 billion.