Additional-Questions-and-Answers.DMS-2425-199.pdf

DMS-24/25-199 Page 1 of 4 State University System Optional Retirement Program (SUSORP) 403(B) and Senior Management Service Optional Annuity Program (SMSOAP) 401(A)

INVITATION TO NEGOTIATE NO. DMS-24/25-199

STATE UNIVERSITY SYSTEM OPTIONAL RETIREMENT PROGRAM (SUSORP) 403(B)

AND

SENIOR MANAGEMENT SERVICE OPTIONAL ANNUITY PROGRAM (SMSOAP) 401(A)

ADDITIONAL QUESTIONS AND ANSWERS

Note: All written questions are reproduced in the same format as submitted by the Respondent.

NO. QUESTION ANSWER

1.

Exhibit 3 – Cost Reply

Please confirm all current providers price is effective on all assets they manage (including assets from pre- July 2015... prior to the current contract)

A pricing response and related considerations are effective for all assets regardless of whether managed prior to or subsequent to the effective date of the proposed contract.

2.

Exhibit 1 – Plan demographics and Employer Information, Tab 1

Please reconfirm if the assets at Voya are mappable since most of them are mutual funds.

The values provided on Revised Exhibit 1, as posted to the Vendor Information Portal on June 12, 2025, were requested by the Department and received from the current vendors on or about 3/24/2025.

3.

Section 3.5.8.1

Please confirm if the documents in

3.5.8.2 – 3.5.8.4 should be included with the 7/14 RFP submission or provided at a later date once selected to negotiate with the Department. (ex:

Exhibit 2 and Redlines of Attachment B, Attachment C, and Exhibit 5 -Draft Contract)

The items listed in section 3.5.8 of the ITN document are to be submitted during the negotiation phase by the Respondent(s) whose evaluation scores fall within the competitive range to commence negotiations.

4.

Exhibit 3 and 4

Is there a corresponding required document for Exhibit 4 – Technical Cost reply that differs from Exhibit 3 – Cost Reply (Item 3.5 in the Reply Submission area of the Ariba Sourcing submission site)?

There was a scrivener’s error in Exhibit 4’s naming convention within Ariba Sourcing that has since been corrected. Respondents will upload their respective response documentation for Exhibit 4 separately to “3.3 Upload Exhibit 4 – Technical Questions Portfolio (PDF)” and “3.4 Upload Exhibit 4 – Technical Questions Reply (Excel)”.

DMS-24/25-199 Page 2 of 4 State University System Optional Retirement Program (SUSORP) 403(B) and Senior Management Service Optional Annuity Program (SMSOAP) 401(A)

NO. QUESTION ANSWER

5.

What is the current balance and participant count for the SUSORP

Holding Account?

As of 06/16/2025:

Participant Count:

Mandatory Employer Contribution Total:

$3,442,865.78

Mandatory Employee Contribution Total:

$2,159,447.72

Voluntary Employee Contribution Total:

$280,818.03

Cumulative Total:

$5,883,131.53

6.

Will a default provider be named during the RFP process? If so, will the existing SUSORP Holding Account funds be swept to that provider and will future ORP mandated accounts be defaulted to that same provider on an ongoing basis (provided a plan member does not make a provider selection during the 90-day enrollment period)?

The current Plan Document does not allow for the appointment of a default provider, however options related to members impacted under such scenarios continue to be evaluated generally. Considering Answer 5 above, Respondents may provide context or recommendations in their responsive materials listed in section 3.5.8, if invited to negotiate with the Department.

7.

If invited to negotiate, please confirm the scope of what may be negotiated.

Please refer to sections 3.5.8 Required Submissions, if Selected for Negotiations, and 4.5 Negotiations in the ITN document.

DMS-24/25-199 Page 3 of 4 State University System Optional Retirement Program (SUSORP) 403(B) and Senior Management Service Optional Annuity Program (SMSOAP) 401(A)

NO. QUESTION ANSWER

8.

Performance Metrics, Attachment C

• Please clarify the meaning of 100% operational deadline, i.e. what implementations are being referred to (3.2.4)?

• As a current vendor, there are no implementations occurring as a result of this RFP.

Please clarify the intent of section 3.2.3 of the statement of work and what implementations this is referring to?

• Please confirm the definition of Account Representatives in section 3.3.2.6 of the statement of work.

• Please confirm the states willingness to streamline the Performance Metrics in Attachment C. i.e. if duplication exists, will the state be willing to negotiate to combine items.

• If an existing vendor has an a service level agreement in place, will the state accept this in lieu of attachment c?

By the 100% Operational Deadline, a respondent selected as a Contractor must conform to all contractual requirements of the Contract and Statement of Work, including those that may not be required under the current contract as related to a current vendor.

Any implementation under 3.2 should address any efforts to meet all contractual requirements by the 100% Operational Deadline.

Per Section 2 Definitions:

Account Representative - A qualif ied employee of the Contractor that solicits investment products to Members eligible to participate in the Plan.

The Performance Metrics (Attachment C) are the requirements expected by the State, but any Respondent may propose alternative measures or a different standard and may propose “a service level agreement in place” through Attachment C or through the redline process described in 3.5.8.4 of the ITN document.

9.

Exhibit 3

Please provide clarif ication on if the 24-month rate in the cost reply, which shall remain firm for the first 24 months of the Contract, differs from the SVIA average crediting rate-which rate supersedes?

The SVIA average crediting rate is the minimum crediting rate over the life of the contract and would be effective should the proposed 24-month rate be lower.

Conversely, during the initial 24-month period, should the 24-month rate be higher than the SVIA average credit rate, it would be effective.

10.

Exhibit 1

Please re-confirm the plan assets and mappable assets at VOYA.

See Answer 2

DMS-24/25-199 Page 4 of 4 State University System Optional Retirement Program (SUSORP) 403(B) and Senior Management Service Optional Annuity Program (SMSOAP) 401(A)

NO. QUESTION ANSWER

11.

Original Questions and Answers

Please also note that the active members value for Corebridge given in question #11 is reversed- there are 4110 members in the SUSORP, and 1 in the SUSOAP.

There was a scrivener’s error on number 11 in the original Questions and Answers document. The corrected information is provided below.

Active Members from 01/01/2025 – 05/31/2025

Corebridge Financial (SUSORP) – 4,110

Corebridge Financial (SMSOAP) – 1

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