Addendum_#3_-_correction_to_page_7_of_RFP.pdf

This is an Addendum #3 to Request for Proposal No. 017-202406-MC issued by the County of Orange, California, for comprehensive administrative and investment services for the County's Health Reimbursement Arrangement (HRA) Program. The addendum corrects a typographical error on Page 7 of the RFP document. The RFP solicits proposals for HRA plan administration and investment services covering two existing plans with a combined 22,387 participants and approximately $351.5 million in total assets. Proposals were due on October 9, 2024, at 4:00 PM Pacific Time, with a planned contract implementation date of July 1, 2025. The contract will be awarded for an initial three-year term with potential for two one-year renewals. Evaluation will be based on 400 points for written proposals, 300 points for oral presentations, and 300 points for cost evaluation.

The current HRA program, administered by MissionSquare Retirement since 2009, encompasses two plans (803049 and 800161) with contributions ranging from 1% to 5% employer contribution rates depending on employee classification. As of June 30, 2024, Plan 803049 had 3,297 accounts with balances and 18,763 participants receiving contributions in Q2 2024, generating $11.5 million in quarterly contributions and $102.5 million annually. Administrative fees are currently set at 0.19% on all assets, with the County seeking up to $90,000 in annual administrative funding. Minimum qualifications for offerors include at least 10 years of HRA plan administration experience and management of at least five plans with over 1,000 participants each. The procurement includes provisions for Local Small Business (OCLSB) and Disabled Veteran Business Enterprise (DVBE) certifications with preference points and price matching opportunities. The incumbent provider, MissionSquare Retirement, has maintained the current diverse investment portfolio featuring funds from managers including BlackRock, Vanguard, T. Rowe Price, and Artisan.