CalSavers Selects Meketa Investment Group as Consultant

Meketa Investment Group, a global investment consulting firm, is pleased
to announce that it has been selected to provide investment consulting
services to the California Secure Choice Retirement Savings Investment
Board for their newly created state-wide defined contribution program,
CalSavers.

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.

California is part of a growing network of states implementing a program
aimed at improving the accessibility of a retirement savings program for
private sector workers who currently do not have access to one through
their employers. It has been estimated that 7.5 million Californians
would be eligible to participate.

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 Mika Malone, Managing Partner, Meketa Investment Group. “We
very much appreciate the opportunity to work with a program that will
benefit millions of California residents, and we look forward to
collaborating closely with the entire CalSavers team. It is a privilege
and honor to be part of the growing national movement seeking to broaden
employee participation in retirement.”

About Meketa Investment GroupFounded in 1978, Meketa
Investment Group is an employee-owned, full service investment
consulting and advisory firm. As an independent fiduciary, the firm
serves institutional investors in discretionary and non-discretionary
roles. The firm consults on more than $600 billion in assets for over
160 clients. For more information, please visit www.meketagroup.com.

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