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EXTRA-7053 - USA (Indianapolis, Indiana) - Defined Contribution Consulting Services - Deadline January 10,2020

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: EXTRA-7053

Government Authority located Indianapolis, Indiana; USA based organization looking for expert vendor for defined contribution consulting services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

(1) Vendor needs to provide defined contribution consulting services to
1. Monitoring Services
a. Annual review of investment policy statement as it pertains to the DC Plan. Advise on the development, implementation, and/or revisions of policies and guidelines.
b. Annual presentation to the Board regarding DC Plan performance, fee analysis, structure changes and the Plan’s overall adherence to the investment policy statement.
c. Participate in quarterly Investment Staff meetings and periodic meetings with members of the Board.
d. Prepare quarterly investment performance measurement reports and assist with updating participant fact sheets. Work closely with Communications Staff on member communications.
e. Assist Staff in the reconciliation of the recordkeeper’s reported performance and cash flows of the investment options.
f. Periodic searches for additions to or replacement of underlying investment options as needed, up to two per year.
g. Support Staff in the selection, retention, and ongoing monitoring of DC vendors regarding administrative, compliance, communication, investment management, and/or recordkeeping.
h. Attend ad-hoc meetings at the request of Staff. Ad-hoc meetings may be via teleconference, in-person, or virtual meeting as deemed appropriate by Staff.
i. Make available all firm research, including proprietary research, and provide consultative opportunities with research staff as requested by Staff.
j. Provide documentation of all investment decisions necessary to fulfill fiduciary responsibilities.
2. Structure Evaluation
a. Ongoing review of whether current investment options are meeting the Defined Contribution Plan’s needs and whether there are gaps or overlaps in the structure, including but not limited to:
o Ensuring a diversity of investment alternatives
o Providing adequate and reasonable availability of investment types
o Seeking clarity and usefulness of the investment choices
b. Periodically evaluate and assist in the determination of the investment fund lineup in the DC Plan.
c. Periodically review the investment manager structure and alternatives of the white label investment options.
d. Issue an evaluation report documenting the evaluation process, the criteria used and the rationale behind the structure selection. This letter will document that prudent procedures were utilized in making the structure selection.
3. Additional Consulting Services
a. Additional Consulting Services may be requested including, but not limited to:
o Investment manager searches beyond two per year
o Onsite investment manager due diligence trips
o Comprehensive glide path studies
o Active vs. passive studies
o Member investment education and financial wellness services and support
2. Structure Evaluation to the government authority located in Indianapolis, IN.
(2) All Questions had been submitted no later than December 9, 2019.
(3) A contract period will be for five years.

[C] Eligibility:

- Onshore (USA Only);

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Friday, 10 January, 2020

Question Answer Deadline : Monday, 9 December, 2019

Category : Professional, Consulting, Administrative or Management Support Services, Banking Services

Country : USA

State : Indiana

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