Searches and Hires

California launches search for Secure Choice investment consultant

The California Secure Choice Retirement Savings Investment Board, Sacramento, is searching for an investment consultant for the new state-run retirement program for private-sector workers.

The contract is for two years, with the possibility of a one-year extension.

Program officials are preparing draft regulations for approval by the board in late 2017, and are aiming to launch a pilot phase of the plan in mid- 2018, Executive Director Kathleen Selenski said in an email. The full program is scheduled to begin a phased implementation in the first quarter of 2019.

AKF Consulting was hired as the general consultant on Aug. 31.

According to the RFP for the investment consultant, the role includes helping the board develop an investment policy and risk management and oversight program; participating in solicitation of investment management services; working with service providers and program stakeholders; and monitoring investment managers and investment options ultimately included in the program.

Proposals are due by 4 p.m. PST Nov 17. A hiring decision is expected by Dec. 11, and the proposed start date is Jan. 10.

A copy of the RFP is available on the state's procurement website.