RFP Defined Contribution Program Consultant

CalSTRS is seeking an independent consultant to act as a strategic advisor for its Defined Contribution (DC) programs (Pension2, 403(b) and 457(b) platforms). The consultant will provide non‑discretionary advice on investment oversight, fiduciary governance, fee benchmarking, record‑keeper performance, glide‑path design, legislative and regulatory compliance, participant communications, and training. The work is structured as a 2‑year contract (with a one‑year optional extension) and capped at 300 consulting hours per year, with compensation based on hourly rates. The vendor must meet extensive experience requirements (minimum 3‑5 years in public‑sector DC consulting), be registered/licensed, and include at least 3 % DVBE participation. • Provide monthly advisory meetings, quarterly performance reviews of record‑keepers, and annual strategic reports on investment and governance. • Conduct fee‑benchmarking analyses, glide‑path modeling for “Easy Choice” target‑date portfolios, and legislative/regulatory briefings. • Deliver training sessions, participant‑disclosure audits, and ad‑hoc consulting with a 10‑15 business‑day turnaround.