CalSTRS is searching for a third-party administrator and a record keeper for two new deferred compensation plans it will offer later this year, confirmed Sherry Reser, spokeswoman. Firms can bid on either component, although one company may be selected by the $157.8 billion California State Teachers' Retirement System, Sacramento, to fulfill both roles.
Currently CitiStreet is the third-party administrator and record keeper for CalSTRS' $152 million 403(b) plan and can bid for the expanded offering, which will include new Roth 403(b) and 457(b) plans.
The RFP is available at www.calstrs.com/rfp. Proposals are due March 26, and a selection will be made in May.