The California State Teachers' Retirement System (CalSTRS) Investment
Committee today adopted a dual-consultant arrangement designed to
improve research and provide broader opinions on key investment issues
Today the committee named Pension Consulting Alliance (PCA) as lead and
Meketa as the co-consultant.
In December 2013, the Investment Committee selected as their consultants
PCA and Meketa Investment Group from a field of four, completing a
competitive Request for Proposal (RFP) process. The Committee then asked
staff to develop a lead and co-consultant model with a specified scope
of duties for each role.
The total scope of duties outlined in the RFP remains the same; however,
the exact division of duties is now shared between the companies.
PCA's duties include:
Meketa's duties include:
PCA has been the Investment Committee's general investment consultant
since 1989. Details of the division of duties are available on the CalSTRS
CalSTRS investment staff will now negotiate contracts with the two
firms. The contract terms will be for three years with two one-year
State Teachers' Retirement System, with a portfolio valued at $180.8
billion as of February 28, 2014, is the largest educator-only pension
fund in the world. CalSTRS administers a hybrid retirement system,
consisting of traditional defined benefit, cash balance and voluntary
defined contribution plans. CalSTRS also provides disability and
survivor benefits. CalSTRS serves California's 868,000 public school
educators and their families from the state's 1,600 school districts,
county offices of education and community college districts.
[ Back To NFVZone's Homepage ]