Pension Funds

CalPERS seeks administrator for supplemental deferred comp plan

CalPERS has launched an RFP for a third-party administrator for its $1.6 billion Supplemental Income Plans, a deferred compensation program.

Incumbent Voya Financial has been invited to rebid, said Megan White, spokeswoman for the California Public Employees' Retirement System, Sacramento, in an email. In May, CalPERS extended Voya's contract to Dec. 31 to give officials at the $354.7 billion pension fund time to conduct a search.

Response are due on March 21 at 3 p.m. PDT, with a selection expected before May.

The RFP is located on the CalPERS website.

CalPERS' staff will be responsible for selecting the new third-party administrator.

Separately, CalPERS hired Deloitte & Touche as its independent financial statement auditor. Pension fund officials had launched an RFP in November. The other semifinalists were BDO USA, CliftonLarsonAllen and incumbent KPMG.