California State Savings Plus Program, Sacramento, will issue an RFP for an investment consultant on April 5, confirmed Patricia McConahay, communications director for the California Department of Human Resources.
The $9 billion defined contribution plan has three consultants — Mercer, Callan Associates and R.V. Kuhns & Associates — and they are invited to rebid. More than one consultant could be hired. The contracts for all three expire Dec. 31. The new contract will be for five years.
Savings Plus has 19 investment options for its 401(k) and 457(b) plans.
Proposals will be due at 4 p.m. PDT May 7. Finalist interviews will take place July 8 and 9, and a hiring decision is expected on Aug. 9.