Kern County Looking for 457 Plan Provider
The county has appointed an evaluation team to prepare the RFP and evaluate proposals. Final selection for the RFP will be made by the Board of Supervisors.
Currently, the county offers participants various investment options including a customized stable value savings option and various mutual funds with an administration and recordkeeping contract with Great West Retirement Services (GWRS). Current total assets are approximately $300 million. The county desires to continue with a single provider.
The proposals should assume a transition start date of July 2, 2008 with completion of asset transfers by October 1, 2008.
The electronic RFP may be downloaded from www.sstbenefits.com .
From the home page, click on RFPs in the left column and then
click “County of Kern Deferred Compensation Record Keeping RFP”.
The log on name is “County of Kern” and the password is “2008”.
The following information can be retrieved from the site:
- Request for Proposal (for downloading)
- Cover Letter (reprint from hardcopy)
- Introduction and Information Regarding the RFP Process
- Exhibit A: 457 Deferred Compensation Plan Documents for Plan 1 and Plan 2
- Exhibit B: Investment Policies for 457 Deferred Compensation Plan and Custom Stable Value Fund
- Exhibit C: Demographics
- Participants in each existing Plan
- Amount of assets in each investment option
- Period ending 12/31/2007 cashflow by investment option
- Current investment options expense structure
- Liquidation Expense / Charges
- Custom Stable Value Account Composition 12/31/07
- Exhibit D: Census
- Exhibit E: Sample Administration Fee Grids
- Exhibit F: Sample County Contract with Terms and Conditions
The RFP must be downloaded and responses entered into the appropriate "grids" for submission.
Also Available
The Introduction and Information Regarding the RFP Process contain the following:
- Selection process timetable the Evaluation Team will follow to evaluate the proposals and select provider(s);
- Submission requirements which represent the minimum qualifications a respondent must meet in order to qualify for consideration;
- Primary and secondary criteria for recordkeeping and administrative services; and
- Information Grids on which respondent information will be formatted.