Fiduciary Services for Deferred Compensation Consulting Services

Seminole County seeks a consultant to evaluate the performance and cost of investment options offered to participants and present a report to the Deferred Compensation Plan Review Committee on an annual basis. The Consultant shall also provide general consultation services regarding Section 457(b) Deferred Compensation Plan compliance and fiduciary duties.

Seminole County Board of County Commissioners (“Seminole County”) is hereby requesting proposals for Section 457(b) Deferred Compensation consulting services in accordance with the specifications listed herein. Seminole County offers the Deferred Compensation Program (DCP) to employees of the Board of County Commissioners as well as employees of five (5) constitutional officers (Sheriff, Property Appraiser, Supervisor of Elections, Clerk of Circuit Court, and Tax Collector). There are approximately 3,200 employees eligible to participate and two thousand, three hundred and sixty-eight (2,368) participants as of June 30, 2024. As of that date, plan assets totaled approximately one hundred forty-two million ($142,000,000). Participants currently have a variety of investment options from which to choose offered by Nationwide, who also serves as the Plan’s record keeper (please refer to Attachment A - Expense Ratio and Attachment B - Plan Health Report, for a list of investment options). Employees have the option to contribute to the plan on a pre-tax basis (traditional account).