CalSTRS Chooses CitiStreet for 403(b) Administration

April 2, 2002 ( - Participants in the California State Teacher's Retirement System's (CalSTRS) 403(b) plan will soon have access to investment education and advice.

The $60 million retirement plan will offer the advice through an agreement with CitiStreet, which the fund selected to provide administration services to its 403(b) plan.

The five-year contract covers an advice platform administered by Financial Engines, according to a news release from CitiStreet.

The package, which includes a new Web site and an expanded fund lineup, will immediately affect the 3,000 teachers covered by the retirement system’s 403(b) plan, the Voluntary Investment Program. 

The program’s core investments include a money market fund, an S&P 500 index fund and an equity index fund. CalSTRS will be adding eight other funds, including three lifestyle funds, targeting specific retirement dates.

CalSTRS also offers participants a self-directed brokerage account.