California Secure Choice Retirement Savings Board hired Meketa Investment Group as investment consultant for the CalSavers Retirement Savings program, Katie Selenski, CalSavers executive director, said in an email.
The selection was the result of an RFP posted Oct. 27.
The CalSavers program is a new state defined contribution plan for workers without access to a tax-favored retirement plan.
"The CalSavers program represents a significant opportunity for private sector employees to save for retirement and we will work diligently to customize a plan lineup that aims to help them reach their retirement goals," Mika Malone, Meketa managing partner, said in a news release.
Separately, the board could select an administrator and investment manager for the plan as early as its next meeting Aug. 16. An RFP was posted in June, with responses due July 17.