25-0318-P_-_Exhibit_C_Pricing_Proposal.xlsx
XLSX spreadsheet 36 KB Posted
- Solicitation number
- 25-0318-RFP
- Issued by
- Pinellas County, Florida
About this file
The document is a Pricing Proposal (Exhibit C) from Gallagher Benefit Services Inc for the Pinellas County Board of County Commissioners' Deferred Compensation Plan Consultant RFP #25-0318-P. The solicitation seeks a qualified investment consultant to provide financial advisory services for the county's 457(b) Deferred Compensation and Health Savings Account investment plans. The initial contract term will be five years, effective July 1, 2026, with an option to extend for two additional twelve-month renewal terms. The proposal submission deadline is April 10, 2025 at 3:00 pm, with preliminary questions due by March 26, 2025. The selected consultant will act as an independent reviewer of the plan's recordkeeping, administration, and investments, with responsibilities including creating and maintaining an investment policy, advising on investment options, and providing fiduciary guidance.
The pricing proposal indicates a preference for a flat fee approach, with Gallagher Benefit Services proposing a $0 fee across all contract years. The current plan involves four providers: Corebridge Financial, Empower Retirement, Missionsquare, and Nationwide, with combined assets of $208,475,213 as of 12/31/24. The Health Savings Account has approximately $818,250 in contributions and 344 enrolled employees. The county strongly prefers consultants who can provide comprehensive services without accepting commissions and who can potentially serve in a 3(21) or 3(38) investment advisory capacity. Qualified consultants must be registered investment consultants with at least five years of experience in public sector defined contribution plans, operating on a fee-based model.
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Text version
Gallagher Benefit Services Inc
| TITLE: Deferred Compensation Plan Consultant |
| NUMBER: 25-0318-P |
| Pricing Proposal |
Vendor:
| Provided Services | ||||||
| Ongoing Deferred Compensation Plan Consulting - Annual Escalation Increase (after Year 1): | 0% | |||||
| DESCRIPTION | YEAR 1 | YEAR 2 | YEAR 3 | YEAR 4 | YEAR 5 | EXTENDED TOTAL |
| Provide an all-inclusive fee (including travel) for ongoing consulting services - including conducting a recordkeeping RFP. |
The firm’s compensation must be a “Fee Based Only” with no commissions accepted from any other firms. The County strongly prefers a flat fee basis, regardless of contract firm in a 3(21) or 3(38) capacity. $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0
5-YEAR LUMP SUM TOTAL $ - 0
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