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Products July 14, 2010
CalSTRS Chooses BrightScope Benchmark for Target-Dates
July 14, 2010 (PLANSPONSOR.com) - The California State Teachers' Retirement System (CalSTRS) has chosen the BrightScope On Target Index to benchmark its target-date portfolios, and analyze the CalSTRS Pension2 Easy Choice Portfolios.
Reported by PLANSPONSOR staff
Target Date Analytics (TDA) together with BrightScope, created The BrightScope On Target Index (www.ontargetindex.com) — designed to assist plan sponsors, advisers, and participants in measuring the performance and risk attributes of their target-date funds. A BrightScope press release said the relationship is a two-pronged approach as TDA will supply CalSTRS with the quarterly allocation and performance data for the BrightScope On Target Indexes, enabling CalSTRS to use the benchmarks internally to report to participants.
In addition, TDA will prepare a detailed analysis to CalSTRS of the Pension 2 Easy Choice Portfolios.
According to the announcement, the BrightScope On Target Index will help CalSTRS measure the performance and risk attributes of its target-date portfolios while giving participants the ability to see how accurately their target-date portfolio lives up to its stated goals.
Pension2 is an optional retirement savings plan offered by CalSTRS and provides both 403(b) and 457 products to California’s educators.