CalSavers Selects Meketa Investment Group as Consultant
By a
The program was created in 2017 following passage of the California Secure Choice Retirement Savings Trust Act of 2016. The Program's mission is to ensure all Californians have a path to financial security in retirement by providing a simple, portable, low-cost way for workers to invest in their futures. Members get access to a voluntary, low-risk, low-cost, portable retirement savings vehicle that enables direct payroll contributions into a personal Individual Retirement Account (IRA) managed by a private-sector financial firm overseen by the California Secure Choice Retirement Savings Investment Board. The Board anticipates the initiative will launch with a pilot program in late 2018 and officially open for statewide enrollment in 2019.
Part of Meketa's efforts in partnering with CalSavers to launch their state-run Program, has been in the establishment of the Board's IPS, predicated upon a set of newly crafted Investment Beliefs. Looking ahead, Meketa will advise on development of a risk management and oversight program; participate in the solicitation of investment management services, and work collaboratively within and across the organizations and teams that will ultimately be service providers to, and stakeholders in, California Secure Choice. Meketa will also monitor the performance of the investment manager(s) and the investment options ultimately included in the Program.
"The CalSavers program represents a significant opportunity for private sector employees to save for retirement and we will work diligently to customize a plan lineup that aims to help them reach their retirement goals," said
Keywords for this news article include: Finance and Investment, Investment and Finance,
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2018, NewsRx LLC
Boehringer Ingelheim Invests More Than €200 Million to Establish Strategic Production Center for Veterinary Public Health in France
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News