Wednesday, May 09, 2007

CalSTRS Awards Recordkeeping RFP TO TIAA-CREF

Award of Contracts

From CalSTRS Website:

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Notice of Intent to Award

Third Party Administrator for Record Keeping of Assets
Request for Proposal Number 2P200610

The California State Teachers' Retirement System (CalSTRS) intends to award a contract to TIAA-CREF as the successful Proposers in the Request for Proposal process entitled Third Party Administrator for Recordkeeping of Assets, pending the Teachers' Retirement Board approval.

CalSTRS has elected to terminate the Third Party Administrator for Compliance component of this RFP. There will be no contract award resulting from the Compliance component of the RFP process.

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Commentary and Disclosure:

Details are not yet public, but CalSTRS has decided to move away from CitiStreet as its recordkeeper and award TIAA-CREF the new contract. The contract will goto the board for approval in June, the fund lineup and pricing should be announced in July. More information about the new program will be forthcoming in the next few months.

The RFP for Compliance was not awarded, instead it was reissued as a separate RFP and can be found at www.calstrs.com/rfp.

In the interest of full disclosure, I (Scott Dauenhauer, CFP, MSFP, AIF President of Meridian Wealth Management) acted as a consultant for the Recordkeeping RFP and continue to act as a consultant on the new Compliance RFP bid.

Scott Dauenhauer, CFP, MSFP, AIF
President
Meridian Wealth Management
949-916-6238
www.meridianwealth.com
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