State of California Issues a Request For Proposal for Three Investment Products

The State of California's Department of Personnel Administration (DPA) recently released a Request for Proposal (RFP) soliciting bids for three (3) investments in the following categories: 1) Stable Value, 2) Bond (actively managed), and 3) Mid Cap Growth Equity (actively managed). Two (2) of the investment categories [i.e., Stable Value and Mid Cap Growth Equity (actively managed)] will replace current investments in the Savings Plus Program's (SPP) Deferred Compensation Plan (IRC 457) and Thrift Plan (IRC 401[k]), which will be discontinued in 2007. The Bond (actively managed) category will be added as new investments to SPP's investment portfolio.

The proposed investments must be qualified to accept both IRC Section 457 and Section 401(k) plan assets. Also, the proposing firms and the proposed investments must meet minimum qualifications and mandatory business and licensing requirements as specified in the RFP.

DPA will select these investments through a competitive process that considers firm background and experience, specific investment strategy, investment philosophy and process, investment performance, fees, and other operational information. It is DPA's intention to award one contract for each investment mandate. The Agreement(s) resulting from this RFP will be for a five-year period beginning November 1, 2007 with the option to extend the Agreement(s) up to two (2) additional one-year periods.

If you are interested in receiving a bid package, please visit www.cscr.dgs.ca.gov/cscr on or after March 16, 2007. Select "View By Contract Number Or Agency" then select "Agency" and scroll to "Department of Personnel Administration" and click the submit button. If you are unable to download the bid package because you do not have a username and password, follow the instructions for "click here to register for a username and password". If you are still unable to download after following the instructions, you may call our Bidder's Hotline at (916) 445-9007 to request a hard copy. Final proposals are anticipated to be received by April 20, 2007.