Industry_Day_Questions_and_Answers_8-6-19.pdf

Industry Day Questions and Answers

Question: Will the RFP be set aside for minority businesses?

Answer: According to the Federal Acquisition Regulations (FAR), contracts over a certain dollar threshold must contain a subcontracting plan with goals. However, if a vendor meets all criteria except the plan, waivers can be made.

Question: Do we anticipate a lot of changes for the current contract?

Answer: Not at this time, any changes would clearly be outlined in the incoming RFP.

Question: How much interaction does SEC have with current vendor?

Answer: Typically, the SEC interacts with current vendor once per week or once every two weeks (for service center questions, death claims, etc.). Monthly meetings occur for pending items/issues. Reports are mostly auto generated and the program manager can also retrieve reports from the system as needed. Department of Interior (SEC’s payroll provider) would need to be looped in for many interactions.

Question: What is the pricing structure like?

Answer: Currently it is CLIN‐based with a fee‐based structure for withdrawals and will be outlined in the forthcoming RFP.

Question: Will the RFP include NCUA insurance (NCUSIF)?

Answer: SEC needs to further research, but there is a high probability of yes for this. It will be outlined in the RFP.

Question: Should the SEC have one vendor or multiple vendors?

Answers from attendees: The RFP should be broadened to include management consulting in the solution. It is more common at this point to see a single solution with one vendor. A single vendor solution is the most common in the industry.

SEC Question: Is everything sufficient for the internet‐based user interface?

Answers from attendees: No concerns if the solution is solely interfaced on the internet as opposed to a phone based system.

Question: How many participants will meet the five year threshold for withdrawals in January 2020?

Answer: About 3,000.

Question: Do we think the Thrift Savings Plan will change its system of check‐based rollovers?

Answer: The SEC has no news of any impending changes in this arena.

Question: Can SEC give statistics on how many historical withdrawals per month?

Answer: Yes, this can be provided with the RFP.