5000003002

The California State Teachers' Retirement System (CalSTRS) is seeking the assistance of consultants with experience in both public sector compensation practices and private sector incentive pay plans to provide advice and consultation on executive and investment compensation strategies, design and structure, and accepted compensation practices and methodologies. CalSTRS is issuing a Request for Proposal (RFP) for Compensation Consultation Services, RFP Number 5000003002. The consultants will be expected to provide a range of services, including advice on compensation policy, design and structure, market compensation surveys, incentive award calculations and verification, job analyses, and performance evaluation processes for CalSTRS' executive and investment management positions. Proposals must be submitted electronically by November 22, 2024 and will be evaluated based on the Proposal Questionnaire, Fee Proposal, and potential interviews. CalSTRS intends to establish a "pool" of qualified vendors to provide these services over a term of up to five years.

The RFP outlines specific minimum qualifications, including expertise in both public sector compensation practices and private sector incentive pay plans. The proposal evaluation criteria are not explicitly stated but are likely to include factors such as the consultant's experience, approach, and fee structure. The RFP also requires compliance with the Darfur Contracting Act, Iran Contracting Act, and CalSTRS' Third Party Economic Interest Disclosure Policy. The contract value or budget range is not specified in the provided information, but the resulting contract(s) may be for up to five (5) years, with CalSTRS intending to establish a "pool" of qualified vendors to be utilized on an as-needed basis, with no guarantee of work.