CalSTRS hired BrightScope and Target Date Analytics to provide a benchmark for rating the target-date funds in its $240 million defined contribution plans, confirmed Ricardo Duran, a spokesman for the California State Teachers' Retirement System, West Sacramento.
The two firms also will analyze the system's three target-date offerings — called the Pension2 Easy Choice portfolios — in the 403(b) and 457 plans. The optional DC plans are part of the $132.1 billion CalSTRS, and are called Pension2.
Pension2 also has a build-your-own portfolio option and a standard brokerage option.
“The CalSTRS partnership with BrightScope and Target Date Analytics hopes to deliver a quick and easy way for our members to compare how the CalSTRS 457 and 403(b) products stack up to the competition and to allow them to contrast the relative risk profiles of our products to the rest of the industry,” Mr. Duran said in an e-mail response to questions.
TIAA-CREF is bundled provider for the plans.
