CalSavers has expanded the range of services for which it is seeking professional assistance. 
On Sept. 5, CalSavers issued an RFP (request for proposals) announcing that it is seeking a contractor to provide investment consulting services. CalSavers, the state-run program that provides retirement plan coverage for private-sector employees whose employers do not and is one of the most extensive such programs in the United States, is administered by the CalSavers Retirement Savings Board.
The board performs the administrative functions for the program that a plan sponsor would in the private sector, absolving participating employers from the need to fulfill those duties. Among the functions for which the board is responsible is managing the way CalSavers funds are invested.
The board will accept bids from contractors offering their services as investment consultant through 4:00 pm PDT on Oct. 6, 2023.
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