System officials have not yet selected investment options for the plans; that could happen as early as the board's April 16 meeting.
An RFP was issued Oct. 21.
Last year, the state Legislature created the two plans for public employees other than those working for the state. Currently, employees for the state's 600 school districts and other state entities have their own 403(b) and 457 plans with combined $2 billion in assets, said Abby Cohen, spokeswoman for TIAA-CREF. Each employer can choose to adopt the new plans as a substitute or a supplement to existing plans, Ms. Cohen explained.