Governmental Retirement Plans:
401(k) Plans Don't Get All The Attention During National Retirement Security Week
Director, California State Teachers' Retirement System
Ms. Blair began her CalSTRS management career in 2009 in the client outreach and guidance business area, where she was instrumental in establishing the model of CalSTRS first Member Service Center in West Sacramento. She became a field manager, overseeing centers in West Sacramento, Glendale and Santa Clara. Under Ms. Blair’s leadership, the CalSTRS defined contribution plan, Pension2®, experienced tremendous growth. It currently administers nearly $600 million in assets on behalf of more than 10,000 plan participants.
Prior to joining CalSTRS, Ms. Blair worked in the private sector in consumer banking, finance and tax preparation. She holds a Bachelor of Science in business administration and finance from California State University, Sacramento.
Recap, Highlights, and Thoughts
From time to time we will take a side trip off the 401(k) path and explore other related topics. Today is a great example of this where we take a minute to explore the 401(k) cousins if you will, in 403(b) and 457 plans. My guest, Sandy Blair is a Director and CALSTRS or the California Teachers Retirement System and a board member at the NAGDCA, or the National Association of Governmental Defined Contribution Administrators. As you will hear, while there are some similarities among governmental plans and their cousins in the corporate world, there are also some important and material differences. We also hit on some important topics and trends we have talked about in many prior episodes such as fees, the use of auto features, fiduciary responsibility and RFPs that have some different nuances to them in the governmental plan world. Finally, Sandy also highlights the resources NAGDCA has to offer anyone who finds themselves in the world of governmental plans, specifically some highlights of next week’s National Retirement Security Week.
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