Attachment B - Corporate Experience Assessment.docx
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- Solicitation number
- 529700
About this file
This document contains an assessment for corporate experience related to a federal contract opportunity for 401(k) administration and recordkeeping services. The assessment requests information on the vendor's experience administering 401(k) plans similar in size and complexity to the requirements, including details on outsourcing and subcontracting of services, administration of plans with over 1,000 participants containing various features, references for recently gained and lost plans, reasons for lost clients, and insurance and regulatory compliance information. The related federal contract opportunity synopsis indicates the Office of the Comptroller of the Currency seeks to maintain 401(k) recordkeeping and trustee services for two retirement plans and anticipates issuing a solicitation under FAR part 12 and subpart 13.5 for a potential nine-year contract with option periods.
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ATTACHMENT B – CORPORATE EXPERIENCE ASSESSMENT
1. Summary Overview (Not-To-Exceed 1 Page)
Provide a summary narrative with an overview of your company and its experience administering 401(k) plans similar in size, scope and complexity to the Government’s requirements.
2. Service Outsourcing/Subcontracting
a. Are the following services done in-house or on an outsourced basis? Complete the table below based on the identified tasks
| Core Task Area |
| In-house/Outsourced |
| Name of Firm |
| Length of time providing (in-house) |
| Length of relationship (out-source) |
| Direct interaction with plan administrator/participants (specify which if any) |
Recordkeeping/Administration (to include software platform)
Regulatory Compliance
Trustee/Custodial
Communication/Education
Fund Menu Investment Consultation/Services
b. Are any other services described in the SOW outsourced?
3. Plans Administration Data
a. How many 401(k) plans do you currently administer in the following categories:
| Number of Participants |
| # of Plans |
| Total Assets |
Less than 500
500-999
1,000 – 2,999
3,000 – 4,999
More than 5,000
Total
b. Indicate the approximate number of 401(k) plans currently under your administration with at least 1,000 current employees, contain the following plan features:
| Plan Feature |
| Approximate # of Plans (1,000 current employees) |
Automatic enrollment
Automated reenrollment
Automatic contribution escalation
Roth contribution source
Voluntary After-tax contribution source
In-plan Roth rollover
Automatic After-tax to Roth contribution conversion
Investment advice
Managed account
Loans
Self-directed brokerage account
c. Have you worked with the National Finance Center (NFC) as a payroll provider (Yes/No)?
d. For full service (investment & trustee) 401(k) plans, please provide the following regarding business gained/lost over the past three years.
| Year |
| Plans Gained |
| Plans Lost |
Total
e. Provide references for your two most recent plans gained and most recent plan lost (if applicable) as an Exhibit:
i. Identify if Gained or Lost:
ii. Company Name:
iii. Date Acquired:
iv. Date Lost:
v. Contract Number/Reference:
vi. Total Value Plan Assets (approximately):
vii. Total Number of Plan Participants (approximately):
viii. POC Name:
ix. POC Email:
x. POC Telephone Number:
f. For lost full service 401(k) plans over the last 3 years, what percentage of your clients left due to the following issues:
Reason
% Lost
Service/Performance
Fees
Merger/dissolution/bankruptcy
Other (specify)
4. Insurance and Regulatory Compliance
a. Do you carry fiduciary liability insurance? Describe any and all insurance coverage that you carry.
b. In the last five years, has your organization or organizational affiliates been cited with any regulatory action by federal or state regulators for violations of any state or federal law? If so, please explain.
c. Have you had any license problems in the last 5 years? If so, please explain.
d. Describe any past or pending litigation, within the last 5 years, relating to the services you are proposing.
5. Ratings and Accolades (include as Exhibits)
a. List your Company’s Ratings - (e.g., A.M. Best, Moody’s, Standard & Poor’s).
b. List any nationally recognizable performance accolades/awards received within the last 5 years.
File details come from the government source that posted it. Updated .