The Rhode Island State Investment Commission, Providence, for the first time is seeking bids in cyberspace. The commission issued its RFP for an administrator for the Rhode Island State Employees' 457 plan on the Internet World Wide Web earlier this week in response to the number of calls the commission had already received on the bid. The commission and the state treasurer's office thought it would be easier to use the Internet to access and respond to the RFP, said Steven Klamkin, spokesman. The web page address is http://www.state.ri.us/treas/treas.htm.
California voters' passage of an anti-affirmative action initiative could have legal implications for the California State Teachers' Retirement System, said James Mosman, CEO of the $65 billion Sacramento fund. All of CalSTRS contracts include provisions that its providers hire or make good faith efforts to hire 15% minority-owned, 5% women-owned and 3% disabled-owned subcontractors. But Proposition 209 requires all state or local governments in the areas of public employment, contracting or education not give preferential treatment to any group.
The $100 billion California Public Employees' Retirement System has similar contracting rules. But Brad Pacheco, spokesman for the fund, said CalPERS is unaffected by Proposition 209 because of an earlier approved proposition, the so-called Pension Protection Act, that gives pension funds more autonomy from government bodies.