The California State Teachers’ Retirement System (CalSTRS) says it is looking for a consultant team to research, design and implement a best practice model for pension accounting and to provide CalSTRS employees transition support and training in its operation.
CalSTRS has a portfolio of $162.2 billion.
CalSTRS says it is looking for a firm that has the capability to manage the effort required to develop and implement pension administration accounting policies, strategic planning and risk assessment processes, treatment (practices and processes based on direction from CalSTRS management), analysis, quality assurance processes, recruitment, retention, skills assessments, and training programs in collaboration with and under the oversight of the CalSTRS Accounting Division and Executive Management team.
CalSTRS’ intention with regards to this work is to supplement management’s technical accounting resources due to current capacity limitations.
The services include:
- Business and technical consulting services in pension accounting.
- Accounting planning, policy development, treatment, internal control, financial and management reporting, and process changes.
- Operational and transitional support to CalSTRS employees.
The final filing date for proposals is Sept. 8, 2008, with the selection expected to be in October. The contract period is up to two-and-a-half years with the option of a one-year extension.
The request for proposals is available HERE