Section 457 Deferred-Compensation Plan

Agency:	Beaver County
State:	Pennsylvania
Type of Government:	State & Local
Category:	13 - Ammunitions and Explosives
Posted:	Feb 21, 2024
Due:	Mar 1, 2024
Publication URL:	To access bid details, please log in.

Attachment Preview

Request for Proposal ("RFP")

Prepared and Issued by

Beaver County

For

Section 457 Deferred-

Compensation Plan

Beaver County is a fourth-class County located in southwestern Pennsylvania. The

County has a Section 457 Deferred Compensation Plan that is voluntarily for

employees and offers no matching funds by the County. It seeks an investment

advisor and record keeping services to start a 457(b) retirement plan. It is possible

approximately $5 million dollars might be transferred into the plan. The plan is

available to all county employees in which traditionally about 80 employees

participate.

The County is soliciting proposals to provide custodial services, including, but not

limited to providing secure possession, investment placement, reporting and

distribution of a new start up 457 Deferred Compensation Plan. The scope of this RFP

also includes any tasks which are reasonably related to the above areas.

The County’s Defined Benefit Pension Plan is NOT part of this RFP. All interested

respondents must complete answer the questions listed below and forward five (5)

copies to:

Nicole Long

Chief Clerk

810 Third St.

Beaver, PA 15009

724-770-4405

nlong@beavercountypa.gov

Proposals must be received no later than 4:00 PM on March 1, 2024.

The evaluation of responses to this RFP will be conducted by the County. After a

thorough review, it will pass a resolution appointing/announcing the provider of

services.

Prior to doing so, the County may or may not request one or more personal interviews

of the representatives from responding entities who will be providing services.

The criteria to be used shall center upon the responder's qualifications, experience,

expertise, proposed fee schedule, depth of personnel who can provide the required

services, and the cumulative confidence in the successful responder. The Beaver

County reserves the right to reject any or all proposals, to waive any informalities and

to award the contract in the best interest of the County as it shall determine.

All proposals must follow the order of questions as listed below. You may provide

attachments as appropriate.

List your organization's complete name, address and telephone number. Also include

contact information in the event that the County has specific questions on your

proposal.

RESPONDER'S HISTORY, OWNERSHIP AND ORGANIZATION

1. Briefly describe the organization, the year it was founded, location of its

headquarters and other offices, its ownership structure, and business focus.

2. What is the total asset base and number of municipal retirement/pension funds

on which you consult?

3. Describe your history and experience in providing such services to current

clients, including Pennsylvania municipal retirement plans. The County may, as

part of the evaluation process, contact references to discuss services provided

by your entity. As part of your response to the RFP, you consent to such

contact.

4. Identify the consultants and other key staff who would be involved in serving our

account. Provide brief resumes of these individuals.

5. Within the last five (5) years has your organization or an officer or principal been

involved in any business litigation or other legal proceedings relating to your

professional activities? If so, provide an explanation and indicate the current

status.

6. Within the last ten (10) years, has your organization been terminated by the

owner, operator or other responsible entity from providing custodial or pension

investment related services due to malfeasance, professional negligence or

based upon other allegations involving a failure to properly perform assigned

duties, regardless of whether or not such termination involved subsequent

litigation? If so, provide an explanation.

7. Describe in complete detail the nature and frequency of consultative services

you will provide.

8. Set forth any facts or factors, not otherwise addressed in this RFP, which you

feel are relevant to the County's selection of professional service providers.

SERVICES

1. Describe how your firm provides recordkeeping, internet access, trading, and

participating reporting services. Please explain the benefits of your approach.

2. Will you act as a fiduciary of the plan?

3. Confirm your availability to meet with the County for periodic reviews and to answer

operational or other questions.

4. Can you provide the County with on-line access to the accounts?

5. How often are performance reports produced and delivered? Include a sample

performance evaluation report and/or statement o f a c c o u n t .

6. Identify and describe, with specificity, the investment options that will be afforded to

the County's employees for the Section 457 deferred- compensation plan.

FEES

Please identify all custodial and investment advisory fees that you propose

charging if selected as a consultant in response to this RFP. These fees should

include both direct and indirect fees, whether paid to you or to another entity.

Please specify in terms of both dollar amounts and/or percent of asset fees. Also

state whether the fees below are based on the combined assets of all plans, or

whether each plan is separate with respect to fees charged.

VERIFICATION

I,_________________________ hereby state that I am _______________ (title)

for the___________________________ (Applicant's Firm), and I am authorized to

make this verification. Everything submitted in this application is true and correct

to the best of my knowledge.

I understand that false statements herein are made subject to the penalties of 18

P.A.C.S. § 4904 relating to unsworn falsification to authorities.

Signature: _________________________

Date: ___________________________

This is the opportunity summary page. You are currently viewing an overview of this opportunity and a preview of the attached documentation. For more information, please visit the Publication URL Web page.

Section 457 Deferred-Compensation Plan

Attachment Preview

See also