The California State Retirement System (CalSTRS) will manage the Los Angeles Unified School District’s (LAUSD) defined contribution plan, Global Pensions reports. CalSTRS will be in charge of holding records for LAUSD.

CalSTRS will work along with current record keeper TIAA-CREF, which provides retirement services in the academic, research, medical and cultural fields. The retirement scheme will also oversee education and counseling services for LAUSD employees about the part that defined contribution accounts play in a retirement plan.

Click here for the story from Global Pensions.