CalSTRS’ staff is recommending the hiring of ING Retirement Solutions as a third-party administrator and record keeper for the CalSTRS’ 403(b) and 457(b) supplementary saving programs, said spokesman Ricardo Duran.
The full board of the $180.8 billion California State Teachers’ Retirement System, West Sacramento, is expected to approve the contract at its April 3 meeting. ING would replace TIAA-CREF when its contract expires Sept. 30, 2015.
The 403(b) and 457(b) plans have a combined $558.8 million in assets, Mr. Duran said.
