BOX ELDER SCHOOL DISTRICT

REQUEST FOR PROPOSALS

Third Party Administration of 403(b) Retirement Plans for Box Elder School District

Solicitation #BESD-005-04012026

Due before: 2PM MDT May 1, 2026 2:00 PM Q&A due by 12PM MDT Apr 23, 2026

This Request for Proposals (RFP), having been determined to be the appropriate procurement method to provide the best value to the Conducting Procurement Unit, is designed to provide interested Offerors with sufficient basic information to submit proposals. It is not intended to limit a proposal's content or exclude any relevant or essential data. Offerors are at liberty and are encouraged to expand upon the specifications to evidence service capability. This RFP is issued in accordance with State of Utah Procurement Code, Utah Code Annotated (UCA) Chapter 63G-6a, and applicable Rules found in the Utah Administrative Code (UAC). If any provision of this RFP conflicts with the UCA or UAC, the UCA or UAC will take precedence.

PART 1: OVERVIEW AND INSTRUCTIONS

1.1 PURPOSE OF REQUEST FOR PROPOSAL (RFP)

Box Elder School District is seeking to partner with a 403(b) provider to handle all employee contributions and the Separation Pay Plan, thereby maximizing purchasing power and efficiency.

1.2 BACKGROUND

Box Elder School District offers a few retirement plans to its employees: a 403(b) plan, a 401(k) plan, 401(k) Roth, a Roth IRA, and a 457 plan. The 401(k) plan, 401(k) Roth, 457 plan, and the Roth IRA are all administered and regulated by Utah Retirement Systems, while the 403(b) plan is currently regulated by a third-party administrator.

1.3 ISSUING PROCUREMENT UNIT, CONDUCTING PROCUREMENT UNIT, AND RFP SOLICITATION NUMBER Questions, responses, and proposals are directed to and handled by GBS Retire Inc., on behalf of the Box Elder School District. Any communication with officials or employees of the Box Elder School District during the RFP process will disqualify your proposal. The reference number for this RFP is Solicitation # BESD-005-04012026. This number must be referred to on all proposals, correspondence, and documentation relating to this RFP.

1.4 QUESTION AND ANSWER PERIOD

All questions MUST be submitted through the Utah U3P/Bonfire platform during the designated time for questions (“Q&A period”) listed on U3P. Questions submitted through any other channel will not be answered. Questions may be answered in the order that they are submitted or may be compiled into one document and answered via an addendum.

Answers disseminated by BESD through the U3P portal system shall serve as the official and binding position of BESD and will constitute an addendum to this RFP.

Questions, exceptions, or notifications to BESD of any ambiguity, inconsistency, excessively restrictive requirement, or error in this RFP MUST be submitted as a question through U3P during the Q&A period.

Questions may be answered individually or may be compiled into one document. Questions may also be answered via addenda. An answered question or addenda may modify the specification or requirements of this RFP. Answered questions and addenda will be posted on the U3P/Bonfire portal. Offerors should periodically check the U3P/ Bonfire portal for answered questions and addenda before the closing date. It is the responsibility of the Offerors to submit their proposal as required by this RFP, including any requirements contained in an answered question and/or addendum.

Exceptions to the scope of work or other content of the RFP that have not been previously addressed during the active Q&A period of the procurement are not allowed and may result in the Offeror’s proposal being considered non-responsive.

1.5 ADDENDUMS

Offerors are encouraged to periodically check U3P for posted questions, answers, and addenda.

Any modification to this procurement will be made by an addendum issued by BESD Purchasing. Addenda to this RFP may be made for the purpose of making changes to: the scope of work, the schedule, the qualification requirements, the criteria, the weighting, or other requirements of this RFP.

After the due date and time for submitting a proposal to this RFP, at the discretion of the chief procurement officer or head of a procurement unit with independent procurement authority, addenda to this RFP may be limited to the Offerors that have submitted proposals, provided the addenda does not make a substantial change to this RFP that likely would have impacted the number of Offerors responding to the original publication of this RFP, in the opinion of the chief procurement officer or head of a procurement unit with independent procurement authority.

Authorized and properly issued addenda shall constitute the official and binding position of BESD.

Any response to this RFP that has as its basis any communications or information received from sources other than this RFP or related addenda may be considered non-responsive and be rejected at the sole discretion of BESD.

1.6 RESTRICTIONS ON COMMUNICATIONS

From the issue date of this RFP until an Offeror is awarded a contract and the award is published, Offerors are prohibited from communications regarding this RFP with the conducting procurement unit staff, evaluation committee members, or other associated individuals EXCEPT the BESD procurement officer overseeing this RFP. Failure to comply with this requirement may result in disqualification.

1.7 SUBMITTING YOUR PROPOSAL

By submitting a proposal to this RFP, the Offeror acknowledges and agrees that the requirements, scope of work, and evaluation process outlined herein are fair, equitable, understood, and are not unduly restrictive. Any exceptions to the content of this RFP must be addressed within the Q&A period. The Offeror further acknowledges that it has read this RFP, along with any attached or referenced documents, including the General Provisions.

All costs incurred by an Offeror in the preparation and submission of a proposal, including any costs incurred during interviews, oral presentations, and/or product demonstrations, are the responsibility of the Offeror and will not be reimbursed.

Proposals must be received by the posted due date and time posted on U3P (“deadline”). Proposals received after the deadline will be late and ineligible for consideration.

Proposals must be submitted electronically, through U3P/BONFIRE.

Electronic submission instructions: When submitting a proposal electronically through U3P, please allow sufficient time to complete the online forms and to upload proposal documents. The RFP will end at the deadline. If an Offeror is in the middle of uploading a proposal when the deadline arrives, the system will stop the upload process, and the proposal will not be accepted by U3P, and the attempted submission will be considered late and ineligible for consideration.

Electronic proposals may require uploading of electronic attachments. U3P will accept a wide variety of document types as attachments. However, BESD is unable to view certain documents. Therefore, DO NOT submit documents that are embedded (zip files), movies, WMP, encrypted, or MP3 files. All documents must be uploaded in U3P as separate files.

1.8 CONTRACT AWARD INTENT

It is anticipated that this RFP may result in a single contract award.

1.9 LENGTH OF CONTRACT

The contract resulting from this RFP will be for a period of five (5) years.

BESD reserves the right to review the contract resulting from this RFP on a regular basis regarding performance and cost, and may negotiate price during the term of the contract.

1.10 PRICE GUARANTEE PERIOD

All pricing must be guaranteed for the entire five (5) year term of the contract.

1.11 STANDARD CONTRACT TERMS AND CONDITIONS, EXCEPTIONS, AND NEGOTIATIONS

Any contract resulting from this RFP will include, but not be limited to, the State of Utah Terms and Conditions.

Attachment A. Exceptions and/or additions to the Standard Terms and Conditions are strongly discouraged. However, Offerors requesting exceptions and/or additions to the Standard Terms and Conditions must be submitted with the proposal. Exceptions and/or additions submitted after the date and time for receipt of proposals will not be considered.

Offerors may not submit requests for exceptions and/or additions by reference to a vendor's website or URL. URLs provided with a proposal may result in that proposal being rejected as non-responsive. Offerors may submit questions during the Q&A period regarding the Standard Terms and Conditions.

BESD may refuse to negotiate exceptions and/or additions that are determined to be excessive; that are inconsistent with similar contracts of the procurement unit; to warranties, insurance, or indemnification provisions that are necessary to protect the procurement unit after consultation with the Attorney General's Office or other applicable legal counsel; where the solicitation specifically prohibits exceptions and/or additions; or that are not in the best interest of the procurement unit.

In a multiple award, BESD reserves the right to negotiate exceptions and/or additions to terms and conditions in a manner resulting in expeditious resolutions. This process may include beginning negotiations with the Offeror having the least amount of exceptions and/or additions and concluding with the Offeror submitting the greatest number of exceptions and/or additions. Contracts may be executed and become effective as negotiations are completed.

If negotiations are required, the Offeror must provide all documents in Microsoft Word format for redline editing. The offeror must also provide the name, contact information, and access to the person(s) who will be directly involved in legal negotiations.

Any mandatorily required acceptance of an Offeror’s terms and conditions may result in the proposal being determined to be non-responsive.

An award resulting from this RFP is subject to successful contract terms and conditions negotiation (if required). SLCSD, at its sole discretion, will determine when contract terms and conditions negotiations become unproductive and will result in termination of the award to that Offeror, and SLCSD may move to the next eligible Offeror.

1.12 PROTECTED INFORMATION

The Government Records Access and Management Act (GRAMA), UCA § 63G-2-305, provides in part that:

The following records are protected if properly classified by a government entity:

(1) trade secrets as defined in Section 13-24-2, the Utah Uniform Trade Secrets Act, if the person submitting the trade secret has provided the governmental entity with the information specified in UCA § 63G-2-309 (Business Confidentiality Claims);

(2) commercial information or non-individual financial information obtained from a person if:

https://purchasing.utah.gov/wp-content/uploads/TCAgencyGoodsServices-7.20.23-RS.docx

(a) disclosure of the information could reasonably be expected to result in unfair competitive injury to the person submitting the information or would impair the ability of the governmental entity to obtain necessary information in the future;

(b) the person submitting the information has a greater interest in prohibiting access than the public in obtaining access; and

(c) The person submitting the information has provided the governmental entity with the information specified in UCA § 63G-2-309;

(6) records, the disclosure of which would impair governmental procurement proceedings or give an unfair advantage to any person proposing to enter into a contract or agreement with a governmental entity, except, subject to Subsections (1) and (2), that this Subsection (6) does not restrict the right of a person to have access to, after the contract or grant has been awarded and signed by all parties,…

Pricing may not be classified as confidential or protected and will be considered public information after award of the contract.

Process for Requesting Non-Disclosure: Any Offeror requesting that a record be protected shall include with the proposal a Claim of Business Confidentiality. To protect information under a Claim of Business Confidentiality, the Offeror must complete the Claim of Business Confidentiality form with the following information:

1. Provide a written Claim of Business Confidentiality at the time the information (proposal) is provided to the state, and

2. Include a concise statement of reasons supporting the claim of business confidentiality (UCA § 63G-2-309(1)).

3. Submit an electronic “redacted” (excluding protected information) copy of the proposal. Copy must clearly be marked “Redacted Version.”

The Claim of Business Confidentiality form may be accessed at:

http://purchasing.utah.gov/wp-content/uploads/confidentialityclaimform.doc

An entire proposal cannot be identified as “PROTECTED”, “CONFIDENTIAL” or “PROPRIETARY”, and if so identified, shall be considered non-responsive unless the Offeror removes the designation.

Redacted Copy: If an Offeror submits a proposal that contains information claimed to be business confidential or protected information, the Offeror must submit two separate proposals: one redacted version for public release, with all protected business confidential information either blacked-out or removed, clearly marked as "Redacted Version"; and one non-redacted version for evaluation purposes, clearly marked as "Protected Business Confidential."

1.13 INTERVIEWS AND PRESENTATIONS

If it is determined to be in the best interest of the Conducting Procurement Unit, interviews and presentations may be held at the option of BESD. BESD shall establish a date and time for the interviews or presentations and shall notify eligible Offerors of the procedures. Representations made by an Offeror during interviews or presentations shall become an addendum to the Offeror's proposal and shall be documented. Representations must be consistent with the Offeror's original proposal and may only be used for purposes of clarifying or filling in gaps in the Offeror's proposal. Interviews and presentations will be at the Offeror's expense.

PART 2: SCOPE OF WORK AND REQUIREMENTS

2.1 DETAILED SCOPE OF WORK AND ADDITIONAL REQUIREMENTS

Box Elder School District is seeking to partner with a 403(b) provider to handle all employee contributions and the Separation Pay Plan, thereby maximizing purchasing power and efficiency. Currently, one provider receives all contributions for both plans, but four providers have assets on the 403(b)-contributory side, and one vendor has assets on the Separation Pay Side.

There are approximately 94 active participants in the Core Contributory 403(b) plan and 412 eligible employees.

http://purchasing.utah.gov/wp-content/uploads/confidentialityclaimform.doc

As of February 20th, 2026, the four providers had approximately $4,349,393.26 in individual annuity contracts with various surrender charges. Corebridge had $791,150 in group assets. Total assets are $5,140,543.26. NBS provides master recordkeeping services to all providers and will continue to do so. Annual contributions have averaged $115,710 over the past five years.

The Separation Pay Plan has approximately 42 active participants. As of February 20th, 2026, there are approximately $977,493 in assets, $518,335 in individual annuity contracts with no surrender fees, and $459,158 in a group platform with zero surrender charges. Annual contributions have averaged $89,015 over the past five years.

Offerors shall provide the following services:

Investment Management Services The district is looking for a service provider that can offer participants an attractive and flexible array of investment options. While the final investment line-up will be determined by the districts at their sole discretion, your firm’s proposal should assume that the variable investment line-up will remain the same.

The successful offeror should provide a detailed plan, transition strategy, and communication materials to explain any new plan changes and enhancements. The potential conversion from the current plan provider to the selected service provider will require you to explain the process, blackout period, and reconciliation of plan assets to the individual participant records. An on-site support team needs to be in place before the actual transition date.

Administration, Compliance, and Recordkeeping Services The successful offeror should provide detailed information about their recordkeeping and administrative systems, as well as their use of technology. Important factors include the ability to process payroll deductions, monitor compliance with contribution limits, process participant transactions daily, and provide timely and accurate participant and financial statements. The selected service provider must have a toll-free customer center, voice response services, and internet services that allow participants to access their accounts.

The selected service provider shall provide all necessary compliance services for the Separation Pay Plan; the 403(b) Contributory Plan will remain administered by National Benefit Services.

Employee Communication/Education and Enrollment Services

The successful offeror shall provide a comprehensive employee communication and investment education program.

Communication services are to be supported by customer service representatives and comprehensive internet services that provide participants with interactive financial and retirement planning tools and software. A dual high-touch approach will be required to provide participants with the financial information and data needed to make informed investment decisions related to their elections. An explanation outlining your firm’s capabilities in designing and implementing a communication/education strategy is required for the initial transition and ongoing process. The goal is to identify a service provider that offers comprehensive communication/education services, supported by field representatives, to accommodate the needs of employees located throughout the district. In addition to your core communication services, field service representatives must be available to provide one-on-one counseling and investment advisory services.

Compensation and incentive awards for your field representatives shall be structured to ensure an objective, unbiased distribution of investment products and services to the Plan’s participants.

Your proposal should state the number of field service representatives dedicated to this relationship, a detailed description of their compensation structure, and their ability to provide one-on-one participant-level investment advisory services.

The selected service provider shall assist employees with the completion of enrollment forms, verify the completeness of the forms and coordinate the institution of salary deferrals with the central office and each school district’s payroll system. The selected service providers shall attend committee meetings as needed.

Trustee/Custodial Services The selected service provider must provide trustee/custodial services for the Plans or arrange for trustee/custodial services with an outside party. Any additional costs for trustee/custodial services are to be fully disclosed in the fee.

2.2 MANDATORY MINIMUM REQUIREMENTS/QUALIFICATIONS

This section contains mandatory minimum requirements that must be met and/or provided in order for an offer to be considered responsive. If required, Offerors shall include a detailed narrative outlining how the proposed solution meets the following minimum mandatory requirements. For ease of evaluation, an Offeror’s proposal must be a point-by-point response that addresses in detail each area of the mandatory minimum requirements and/or qualifications.

Failure to meet and/or provide any one of the mandatory requirements/qualifications will result in the proposal being rejected pursuant to UCA §63 G-6a-704, and the proposal will not move forward in the evaluation process.

All of the items described in this section are non-negotiable. A rejection of a proposal for failing to meet these mandatory minimum requirements can occur at any time in the evaluation process.

1. Your firm has provided recordkeeping services to K-12 education defined contribution plans for more than 7 years

2. Your firm provides recordkeeping services to at least 10 public K-12 plans with at least 2,000 employees and $75 million in assets

3. Your firm has at least $15 billion in record-kept 403(b) assets as of January 31, 2025, or at least 125,000 participants

4. Provide a minimum of 3 similar sized plan references willing to attest to your work

5. Provide qualified, local, in-person support to District employees from salary-based representatives who do not receive any financial incentives or commissions based on participant investment selections.

6. Provide one dedicated education representative and access to a Spanish-speaking education representative as needed. Representatives must be salaried employees of your firm. These reps will cover all Box Elder School District locations, including schools, with group presentations, workshops, investment overviews, and enrollment meetings, followed by one-on-one retirement planning meetings. These individuals will need to be available to cover shifts, including some night and weekend work.

7. Provide written materials in Spanish and English

8. Provide automated processes to minimize the Plan Sponsor’s administrative burden.

9. CFP available, Series 65 and Series 66 Licensed Advisors

10. Able to credit payroll contributions to participant accounts no later than one business day following the receipt of funds in good order

11. Offer monies to pay for surrender charges with legacy providers and to provide a surrender-free platform

12. Process and maintain participant loans using payroll deduction in accordance with the district’s policy

13. Able to accept the responsibility for maintenance and reporting of participant loan data, including reporting on delinquent and defaulted loans, as needed

14. Able to handle all aspects of benefit distribution processing, including disbursements of funds, preparation of required notices, tax withholding, tax reporting, tax filing, and preparation and distribution of the 1099-R forms

15. Mail quarterly participant statements to participants’ home addresses.

16. Able to incorporate a participant’s assets that remain invested with a former vendor(s) into holistic financial planning and education for the participant

17. Provide current SSAE 16 or 18 (Statement on Standards for Attestation Engagements) or SOC 1 (Service Organization Controls) on internal controls of your service organization

18. Willing to agree to applicable contract penalties for non-performance of agreed-upon service standards

19. Offer a mutual fund platform with an open universe of investment alternatives

20. Will not require the employer to hold any proprietary funds

21. Clearly state your fixed interest accounts' crediting interest rate and fees

22. Provide a clearly stated minimum revenue requirement regardless of the investment lineup

23. Able to provide a dedicated transition team if needed

24. Willing to commit to a thoughtful and robust contract exchange/rollover strategy

25. Able to comply with minimum insurance requirements

26. Must be able to commit to a 3-year contract with two one-year renewals

27. Must agree to comply with Box Elder School District’s contract terms.

28. Vendor Profile must be completed. See attachment B

2.3 DETAILED TECHNICAL RESPONSE

A- INITIAL QUESTIONNAIRE – PLEASE COMPLETE THIS IN A WORD DOCUMENT – you may also provide a PDF.

1. Provide a brief firm history, including the year founded and the types of services offered.

2. Please describe any parent/subsidiary/affiliate relationships.

3. Indicate whether any services will be subcontracted to another company or offered through a partnership and fully describe these services and the qualifications of the company that will provide the services.

4. Within the last 5 years, has your firm, any entity owning an interest in your firm, any subsidiaries, or any partners, professionals, local service representatives, or members of your firm: (If yes, explain in detail)

a. Been the subject of any disciplinary action by any security regulatory agency?

b. Been the party to any litigation directly or indirectly related to the conduct of defined contribution plan business?

c. Been the subject of any ethical inquiries, legal inquiries, or other disciplinary proceedings?

5. How many plans do you currently administer in the following categories:How many plans do you currently administer in the following categories:

"Matrix for vendors to input the total number of defined contribution plans they currently administer, categorized by specific plan types and participant count tiers."

Number of

Participants

A. K-12 403(b) Plan

B. All Other Governmental 403(b) Plans

D. All other defined contribution plans

E. Total defined contribution plans

100-1,000 employees 1,001 - 3,000 employees

3,001-10,000

10,001– 15,000

> 15,000 employees Total of above

6. What is the average plan asset size for K-12 403(b) plans you keep as record?

7. What is the asset size of clients for whom you provide administrative services, in the following categories:

"Matrix for vendors to input the asset sizes of clients for whom they provide administrative services, categorized by specific plan types."

Asset Size of Plans

A. K-12 403(b) Plans

B. All other Governmental 403(b) Plans

D. All other defined contribution plans

E. Total defined contribution plans

$1 -$10 million $11-$25 million $26-$100 million $101 - $500 million >$500 million Total of above

8. Total Value of assets for which you provide recordkeeping services if different than above.

9. Will your firm provide trustee services in addition to recordkeeping? Please describe.

10. Describe your Errors & Omissions insurance. What are your policy limits? What is your carrier’s name?

11. Have you had any claims against your E&O or Employee Dishonesty insurance in the last three years? If so, please describe.

12. What type of education and support services do you provide to inform employees of their rights to move assets from an existing vendor to you as the new (or one of the latest) service provider(s)?

Transition Plan and Contract Exchange/ Rollover Strategy

13. Do you offer an open architecture platform?

a. How many mutual fund families are on your platform?

b. How many mutual funds are on your platform?

c. Are there any mutual fund families you are unwilling to record-keep?

d. Do you allow funds that have a short-term redemption limitation and charge a fee for exceeding frequent trading limits?

Investment Services

14. What are the restrictions for adding funds outside your platform?

a. What is the process to add a fund?

b. How long does it take?

c. Is there an additional cost to add a fund to your platform?

15. Supply the following information regarding your fixed account solution:

a. What is the portfolio allocation?

b. Please provide monthly or quarterly crediting rates/returns for the past 5 years.

c. Please provide the contract floor rate. Please provide your financial strength ratings (i.e., S&P, Moody’s, Fitch, or

A&M)

d. Please provide the overall portfolio credit quality of the bonds in the proposed fixed account offering (AAA, AA, B, etc.)

e. Please provide the revenue credit toward the recordkeeping fee for the proposed fixed account offering.

f. Please describe any restrictions on plan sponsor liquidations of the fixed account offering.

g. If available, please attach a fixed account fact sheet for the proposed offering.

16. Does your firm offer a Self-Directed Brokerage Window?

a. Who is the brokerage firm?

b. Please provide any additional costs that would be incurred by the plan sponsor and/or participant to have this option.

c. Is it fully integrated with your website and call center?

d. Are participants allowed to permit their outside investment advisors to have access to their SDBA?

e. If yes, is the advisor’s fee able to be paid from the account?

f. How are recordkeeping fees paid from the account?

17. Does your firm offer the Managed Accounts Program?

a. What is the cost for this service?

b. What provider is responsible for the process and methodology used in the service? (i.e., Morningstar, Ibbotson, other third-party providers)

c. Can participants load outside or spousal assets into the system to be included in the calculations?

Fees & Expenses

18. Please provide a clearly stated minimum revenue requirement regardless of the fund lineup selected, but using your Fixed Account for the following pricing scenarios as a percentage of assets (bps) and on a per participant basis.

a. Single provider for both the 403(b) and SPP 403(b)

19. Please provide a clearly stated minimum revenue requirement regardless of the fund lineup selected, but using a Money Market Mutual Fund or Stable Value Fund instead of your Fixed Account Solution for the following pricing scenarios as a percentage of assets (bps) and on a per participant basis.

a. Single provider for both the 403(b) and SPP 403(b)

20. If the assets in the 403(b) and SPP plans grow more quickly than your assumptions, are you willing to reprice the plans?

21. Are you willing to set a plan asset size or participant count to renegotiate the pricing?

22. Do you offer fee equalization/fund revenue leveling services?

23. Is this service limited by plan size?

24. Are there any additional costs or other limitations associated with this fee methodology?

25. How will a participant see their fees and revenue sharing credits on their quarterly statements and online?

26. Identify any other extraordinary one-time start-up costs related to the Plan.

27. Identify which plan level services would incur charges above the revenue requirement.

28. Identify all fees related to contract termination.

29. Are your fees negotiable?

30. Please confirm that your contract is guaranteed for Five years.

31. Please provide your Service Guarantees.

Cyber Security

32. Have you experienced any security breaches? If yes, please explain.

33. Do you carry cybersecurity insurance? If yes, provide an overview of the coverage.

34. Does your firm have an annual independent assessment made of its cybersecurity processes?

35. When did you last conduct a full-scale business continuity &/or disaster recovery test?

36. Do you have a chief information security officer or equivalent position?

37. Describe how content is shared and/or permissions will be managed for users and administrators.

38. Do you have a formal policy to protect against the risks of using mobile computing and communications facilities?

39. What additional type of PII data is collected for the proposed solution? (District will provide employee name, mailing address, e-mail address, date of birth, annual compensation, SSN, and employee ID)

40. Does the proposed system adhere to Personal Identifiable Information (PII) requirements?

41. What type of system technology is used to house/store collected (PII) information?

42. At the time of contract termination, what is your retention policy/requirement for collected PII data?

43. Provide a copy of your Security Policy.

44. How are personal identification numbers or passwords handled? How are PIN resets handled?

Participant Services and Educational Support

45. Please describe security authentications employed to ensure a secure online experience for participants.

46. What materials and assistance will new hires receive from your firm?

47. Please outline your online enrollment experience for participants.

48. Please describe what tools are available to help participants achieve retirement income goals.

a. Retirement income projections with gap analysis and an easy way to act.

b. Overall Financial wellness – budgeting, estimated healthcare costs in retirement, and the ability to turn Social

Security on or off.

c. Spend down projections using different market risks.

49. Identify the services available to participants via the website, smartphone, tablet, and through the voice response system.

50. Provide your call center performance for 2023, 2024 and 2025.

a. Client satisfaction ratings

b. Average response time

c. Average wait time

d. % of abandoned calls

e. % of first call resolution

51. Provide the hours that a live call center representative is available to answer participant questions.

52. If your firm is the sole provider for both the 403(b) Plan and SPP, can you provide consolidated statements? If yes, please provide a sample consolidated quarterly participant account statement.

53. Please confirm that you can provide custom Box Elder School District-branded participant education materials and a website landing page.

a. Is there an additional cost for custom branding? If yes, what is that cost?

b. Will a dedicated Communications Consultant be assigned to the plan? If not, who will be responsible for maintaining the custom-branded communication materials and website?

54. Please confirm that you can produce branded participant communication and education materials in Spanish and English.

B- REFERENCES

The proposer shall submit a minimum of three (3) references. If possible, these should be of similar size.

Please provide the name of the employer, phone number, business address, the name of a contact person and that contact person’s e-mail address

C- ORAL PRESENTATION

An oral presentation by an offeror to clarify a proposal may be requested at the sole discretion of Box Elder School District. However, Box Elder School District may award a contract based on the initial proposals received without discussion with the Offeror. If oral presentations are requested, they will be scheduled after proposals are submitted.

Oral presentations will be made at the offeror's expense.

PART 3: PROPOSAL EVALUATION

3.1 PROPOSAL EVALUATION

Box Elder School District will evaluate proposals using a weighted scoring methodology to identify the proposal that offers the best value to the District. Evaluation will be conducted in a fair and impartial manner consistent with applicable Utah public procurement standards.

Within each evaluation category, proposers will be assessed based on the overall quality and completeness of their response, with greater consideration given to factors that most directly align with the District’s operational and service priorities.

Total Possible Points: 100 Evaluation Category Points Firm Qualifications & Experience 20 Administrative & Recordkeeping Capabilities 25 Participant Services & Investment Platform 20 Transition & Implementation Strategy 15 Fees & Cost Structure 10 Oral Presentation (if applicable) 10

Firm Qualifications & Experience (20 Points) Evaluation will consider, but is not limited to:

● Experience with K-12 403(b) plans of similar size and complexity

● Number of public sector clients and scale of assets administered

● Financial strength and organizational stability

● Quality and relevance of client references

● Availability of local, in-person, salaried service representatives

Administrative & Recordkeeping Capabilities (25 Points)

● Accuracy and timeliness of payroll processing and contribution posting

● Integration capabilities with existing systems, including NBS

● Loan administration and distribution processing capabilities

● Reporting accuracy and accessibility (plan sponsor and participant level)

● Technology platform functionality and user experience

● Cybersecurity practices and SOC/SSAE compliance

Participant Services & Investment Platform (20 Points)

● Breadth and flexibility of the investment platform (open architecture)

● Fixed account structure, crediting rates, and associated fees

● Availability of managed accounts and/or brokerage window

● Participant education model, including group and one-on-one support

● Availability of Spanish-language services and materials

● Advisor compensation structure and alignment with participant best interest

Transition & Implementation Strategy (15 Points)

● Contract exchange and rollover strategy from legacy providers

● Approach to minimizing or offsetting surrender charges

● Communication and education strategy during transition

● Implementation timeline and dedicated transition resources

● Demonstrated experience with similar plan conversions

Fees & Cost Structure (10 Points)

● Total revenue requirement and fee transparency

● Overall cost competitiveness relative to services provided

● Willingness to reprice as plan assets grow

● Clarity of fee structure (participant-level vs. plan-level costs)

● Termination provisions and any additional or hidden fees

Oral Presentation (If Applicable) The District may invite one or more highest-ranked proposers to participate in an oral presentation. If conducted, presentations will be scored and incorporated into the total evaluation.

Evaluation will consider:

● Demonstrated understanding of District objectives and operational requirements

● Implementation readiness and transition planning

● Qualifications of the proposed service team

● Participant education and service delivery model

● Responsiveness to District questions

Additional Evaluation Provisions

● The District reserves the right to request clarification or additional information from any proposer.

● The District may negotiate final terms, pricing, and service structure with the highest-ranked proposer(s).

● The District reserves the right to reject any or all proposals.

● Award will be made in the best interest of the District, taking into consideration evaluation scores and overall value.

3.4 PROPOSAL EVALUATION PROCESS

Stage 1: Initial Review In the initial phase of the evaluation process, the conducting procurement unit will review all proposals timely received.

Non-responsive proposals not conforming to RFP requirements or unable to meet the minimum and/or mandatory requirements will be eliminated from further consideration.

Stage 2: Technical Proposal Evaluation Responsive proposals will then be evaluated by an evaluation committee appointed by the conducting procurement unit against the proposal.

4.3 DETERMINATION OF BEST VALUE

Subject to UCA § 63G-6a-709(2), in determining which proposal provides the best value to the Conducting Procurement Unit, the Evaluation Committee and the Conducting Procurement Unit, pursuant to UCA § 63G-6a-708, shall prepare a written justification statement that: (i) explains the score assigned to each evaluation category; and (ii) explains that the proposal with the highest total combined score provides the best value to the Conducting Procurement Unit, or if a cost benefit analysis is required, the final determination based on the cost benefit analysis.

BESD reserves the right to award the contract to technically qualified Offeror(s) with a lower score in the event the high scoring offer is determined to not be the best value offered to BESD, based on a cost benefit analysis.

PART 5: PROPOSAL AWARD PROCESS

After the completion of the proposal evaluation process and the justification statement, including any required cost-benefit analysis, the evaluation committee shall submit the proposals, evaluation scores, and justification statement to the head of the procurement unit or designee for review and final determination of a contract award.

5.1 AWARD OF CONTRACT

After the evaluation and final scoring of proposals is completed, BESD shall award the contract as soon as practicable (subject to the requirements of UCA § 63G-6a-708) to the eligible responsive and responsible Offeror with the highest score, subject to UCA § 63G-6a-709(2) of the Utah Procurement Code, provided the RFP is not canceled in accordance with UCA § 63G-6a-709(2)(b).

5.2 PUBLICIZING AWARD

The issuing procurement unit shall, on the next business day after the award of a contract is announced, make available to each offeror and to the public a written statement that includes:

A. the name of the offeror to which the contract is awarded and the total score awarded by the evaluation committee to that offeror;

B. the justification statement under UCA § 63G-6a-708, including any required cost-benefit analysis; and C. the total score awarded by the evaluation committee to each offeror to which the contract is not awarded, without identifying which offeror received which score.

ATTACHMENT B

VENDOR PROFILE

COMPANY NAME:

NAME AND CONTACT INFORMATION FOR THE INDIVIDUAL COMPLETING THIS QUESTIONNAIRE:

E-MAIL ADDRESS:

MAILING ADDRESS:

OFFICE PHONE:

MOBILE PHONE:

FEDERAL TAX ID NUMBER:

STATE OF INCORPORATION:

ANNUAL REVENUE FOR THE LAST 5 YEARS (PLEASE LIST BY YEAR):

CURRENT FINANCIAL STRUCTURE (E.G., DEBT, EQUITY, ETC.) AND FINANCIAL HEALTH:

CURRENT CREDIT RATINGS (IF APPLICABLE):

PROVIDE THE SAMPLE PARTICIPANT'S WEBSITE ADDRESS AND LOGIN INFORMATION.:

PROVIDE THE SAMPLE PLAN SPONSOR WEBSITE ADDRESS AND LOG-IN INFORMATION: