CA Secure Choice Retirement Savings Investment Board Seeks Investment Consulting Services
The California Secure Choice Retirement Savings Investment Board
has issued a request for proposal
for investment consulting services, California State Treasurer John Chiang (D) has announced.
The board is seeking a qualified investment consultant to perform the following functions:
- facilitate the board's development of an investment policy based upon investment beliefs and objectives the board establishes;
- advise on the development of a risk management and oversight program;
- participate in the solicitation of investment management services;
- work collaboratively within and across the organizations and teams that will ultimately be service providers to and stakeholders in the Secure Choice Program; and
- monitor the performance of the investment manager(s) and the investment options ultimately included in the Program.
Secure Choice is not yet fully operational. Under the current proposal, when it is, employers with five or more employees that do not provide a retirement plan will be required to either begin to offer one or provide their employees access to Secure Choice.