Appendix D - Fee Proposal.xlsx
XLSX spreadsheet 33 KB Posted
- Attached to
- 457(B) DEFERRED COMPENSATION PLAN RECORD KEEPER
- Solicitation number
- 213998
- Issued by
- Wyoming
About this file
This is a Fee Proposal Appendix for the Wyoming Retirement System (WRS) 457(b) Deferred Compensation Plan recordkeeping services RFP. The solicitation seeks a single provider to deliver comprehensive recordkeeping services and general education services for the WRS 457 Plan, with proposals due by 2:00 p.m. Mountain Time on August 11, 2026. The plan currently has 31,102 participants with a balance and total assets of $1,265,802,098 as of December 31, 2025. Respondents must complete detailed fee proposals in the prescribed Excel format without inserting or deleting rows or columns unless specifically authorized. Written questions regarding the procurement must be submitted through the Public Purchase online bidding system by 2:00 p.m. Mountain Time on July 24, 2026, and all responses must be uploaded completely by the stated deadline or risk being deemed non-responsive and eliminated from evaluation.
Fee proposals will be evaluated based on reasonableness and cost effectiveness and may be structured as asset-based fees, per-participant fees, or hybrid arrangements, all invoiced quarterly and deducted from participant accounts. Respondents must address base or minimum fees, conversion charges, fee guarantee terms, termination fees, material change levels triggering fee renegotiation, trustee/custodian fees, investment option flexibility costs, prototype plan document fees, and all transactional fees including those for hardship withdrawals, rollovers, distributions, QDROs, wire transfers, and other administrative services. Additional fee considerations include administrative forms and communications, educational content delivery, field representative services, deemed IRA offerings, special projects, self-directed brokerage accounts, and any other direct or indirect fees. Respondents may optionally propose alternative fee structures including per-participant, hybrid, or other structures, which will be considered supplemental to the primary evaluation process.
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Other files
| File | Type | Posted |
|---|---|---|
| RFP 0310-M Addendum 1.pdf | ||
| Appendix E-Fund Information.docx | DOCX document | |
| Appendix B - General Provisions Affirmation.docx | DOCX document | |
| Appendix A - General Provisions.docx | DOCX document | |
| RFP 0310-M.pdf | ||
| Appendix C - Technical Questionnaire.docx | DOCX document |
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Text version
Open Architecture
| WRS Recordkeeping RFP |
| Appendix D: Fee Proposal |
| Primary Scenario: No Proprietary Investments Assumed |
Instructions: Please complete each of the yellow fields and questions below to describe your fee proposal for the Plan, assuming NO proprietary investments are included.
Reminder: Fee Proposals will be scored based on the reasonableness and cost effectiveness of the open architecture proposal. Please note that total number of participants with a balance and total assets are as of 12/31/2025.
| PLEASE DO NOT INSERT OR DELETE ANY ROWS OR COLUMNS IN THIS DOCUMENT UNLESS ADDITIONAL INSTRUCTIONS WITHIN THE SPECIFIC TAB ALLOW YOU TO DO SO. | |
| Question | WRS 457 Plan |
| Q1 | |
| Outline any base or minimum fees, as applicable. | |
| Q2 | |
| Provide any conversion charges, if any. | |
| Q3 | |
| Clearly specify Fee Guarantee Term and Conditions. | |
| Q4 | |
| Clearly specify Termination Fees, if any (Describe all terms). | |
| Q5 | |
| Clearly specify the Material Change Level (participant count and/or asset level), explicitly defining the percentage change at which your stated per participant fees would be subject to renegotiation. Please note finalists may be required to articulate fee levels contemplating a given up and down change to the base participant/asset levels. | |
| Q6 | |
| Cost Proposal Assumptions | |
| For the WRS 457 Plan: Provide an annual fee quote (to be invoiced quarterly and paid for using the fees deducted from participant accounts) on a percentage of assets basis to encompass all recordkeeping services as well as general education services under a single provider model. Please note that this quote may be given in terms of asset-based fees. If you would like to propose a fee type option (i.e., $XX per participant or 0.XX%), please provide the alternative proposed structure on the "Optional Alternative Proposal" tab. |
| If a cap on annual asset-based fees is proposed, please provide the annual fee cap amount in the field requested below. | WRS 457 Plan | |||||
| Description | Units | Unit Price | Calculated Total | |||
| # of Participants with a Balance: | 31,102 | See below | ||||
| Total Assets: | $1,265,802,098 | See Below | ||||
| Assumed Units | Rate | Total | ||||
| Assumed Units | Unit Price | Calculated Total | ||||
| Base Fees (Total $): | 1 | $0.00 | ||||
| Asset Based Fee (%): | 1,265,802,098 | $0.00 | ||||
| Total Estimated Annual Base/Participant/Asset Fees: | $0.00 | |||||
| Total Estimated Annual Base/Participant/Asset Fees (% of Assets): | 0.00% | |||||
| Notes: | ||||||
| Annual Fee Cap (if any): | ||||||
| Q7 | ||||||
| Name of Proposed Trustee / Custodian | ||||||
| Q8 | ||||||
| Discuss core trust/custody/accounting fees (as well as the vendor to whom such fees, if different than the Respondent, are paid) that may apply to the relationship considering the current plan line up of mutual funds. |
If you are proposing trust/custody/accounting fees from another firm, please include a binding fee schedule from that provider, which provides a breakdown of how these fees have been calculated.
| Q9 |
| Specifically address the flexibility to add, remove, and replace investment options. If fees are applicable, please describe fully the cost to add, remove, or change an investment option on the recordkeeping system, specifying any differences between sponsor-directed (e.g.., adding, replacing, or removing a fund, including a new vintage of a target date suite) vs. fund provider directed (e.g., name changes, fund mergers, etc.) adjustments. |
Specifically address fees for the actual fund change vs. participant communications if separate and additional.
| Q10 | ||||
| Specify any additional fees associated with prototype Plan Document creation / maintenance. | ||||
| Q11 | WRS 457 Plan | |||
| Description | Assumed Units | Rate / Unit Price | Total | |
| Clearly identify ALL additional and/or transactional fees that may apply for both in-scope as well as optional items. If any of the fees to the right will not apply, please specify as "Included". | Hardship Withdrawals: | $ - 0 | ||
| Rollover Distributions: | $ - 0 | |||
| Total Lump Sum Distributions: | $ - 0 | |||
| New Installment Setup | $ - 0 | |||
| Installment Total Participants | $ - 0 | |||
| Installment Distributions: | $ - 0 | |||
| Required Minimum Distributions: | $ - 0 | |||
| In-Service Non-Hardship Withdrawals | $ - 0 | |||
| Other Distributions | $ - 0 | |||
| QDRO Administration and Outsourcing Fee | $ - 0 | |||
| Overnight Check Fee: | Assumption Not Available - Please provide fee, if any. | N/A | ||
| Wire Fee: | N/A | |||
| Returned ACH Fee: | N/A | |||
| Other Fees: | $ - 0 | |||
| Other Fees: | $ - 0 | |||
| Other Fees: | $ - 0 | |||
| Other Fees: | $ - 0 | |||
| Other Fees: | $ - 0 | |||
| Q12 | ||||
| Describe fees, if any, for Administrative Forms, Confirmations, and Standard Legal Notices with print or e-mail distribution. |
| Q13 |
| Describe fees, if any, for customized, comprehensive communication and education materials delivered directly to participants via their preferred channel including print, email, and web. (If certain customizations are included and some would lead to additional fees, please discuss what customizations would lead to additional fees.) |
Please include associated postage charges.
| Q14 | ||
| Indicate the cost for standard educational content offered online including general educational materials, publications, educational articles, calculators, and plan level information, if any. | ||
| Q15 | ||
| Indicate the annual cost for provision of one education field representative, at option to WRS. | ||
| Q16 | ||
| Discuss any associated fees with offering a Deemed Traditional and Roth IRA. | ||
| Q17 | ||
| Describe your special project fee approach (including fixed fees vs. hourly rate). Clearly identify the hourly rate and labor categories that you would commit to for such projects. | ||
| Q18 | ||
| Identify other administrative, tax, reporting, or similar miscellaneous fees that may apply. | ||
| Q19 | ||
| Indicate the specific fee structures and administrative expectations for self-directed brokerage accounts. (Note that WRS currently has SDBAs through Schwab.) | Cost to Open Account: | |
| Annual Administrative Fee: | ||
| Transaction Fee for Transaction Fee Mutual Fund Trades | ||
| Transaction Fee for Common Stock Trades | ||
| Transaction Fee for Fixed Income Trades | ||
| Provide, and affirm that you have provided, your retail commission fee schedule as part of your Additional Materials Requested. | ||
| Minimum Deposit Requirement: | ||
| Minimum Initial Transfer of Funds | ||
| Minimum Subsequent Transfer of Funds | ||
| Q20 | ||
| Please list any and all direct and indirect fees that may be charged by your firm that were not addressed in the preceding questions. Of those fees, which are borne by the plan sponsor and which are charged directly to the plan participants? If charged directly to the plan participant, how are these fees identified and communicated to the plan participants? | ||
| Q21 | ||
| Clearly outline any/all assumptions and conditions relied upon, if any, in assembling this response and economic proposal. | ||
| Q22 | ||
| Is there anything else you want to include in your discussion of recordkeeping fees? | ||
| Q23 | Please select: | |
| At Respondent option, indicate whether your firm is proposing one or more optional additional scenarios contemplating an optional alternative annual fee quote (to be assessed quarterly as a direct deduction to participant accounts) to encompass all recordkeeping services for an optional scenario. If you would like to provide a bid, please indicate as such to the right and complete the tables on Tab: Optional Alternative Proposal. If you decline to bid, please indicate as such to the right. | a. Per participant fee structure: | |
| b. Hybrid fee structure (i.e. per participant and asset based): | ||
| c. Other alternative fee structure: |
Optional Alternative Proposal
| WRS Recordkeeping RFP |
| Appendix D: Fee Proposal |
| Optional Alternative Fee Proposal |
Instructions: If you elected to provide a bid under any of the Optional Alternative Proposal scenarios detailed in Q23 of the Open Architecture tab, please complete the appropriate fee tables below.
Reminder: These scenarios will be considered supplemental to the fee evaluation process and may be incorporated into optional use clauses within the resultant contract with the selected Respondent. Please note that total number of participants with a balance and total assets are as of 12/31/2025.
a. Per Participant Recordkeeping Fee
| Provide an annual fee quote (to be invoiced quarterly and paid for using the fees deducted from participant accounts) on a per-participant-with-a-balance to encompass all recordkeeping services as well as general education services under a single provider model. Please note that this quote may be given in terms of dollars per participant. Please note that the total number of participants is reflective of the total number of participants and not the total number of active accounts (i.e. one fee per SSN). | WRS 457 Plan | |||
| Description | Units | Unit Price | Calculated Total | |
| # of Participants with a Balance: | 31,102 | See below | ||
| Total Assets: | 1,265,802,098 | See Below | ||
| Assumed Units | Rate | Total | ||
| Assumed Units | Unit Price | Calculated Total | ||
| Base Fees (Total $): | 1 | $0.00 | ||
| Per Participant Fee ($ / Participant): | 31,102 | $0.00 | ||
| Total Estimated Annual Base/Participant/Asset Fees: | $0.00 | |||
| Total Estimated Annual Base/Participant/Asset Fees ($ / Participant): | $ - 0 | |||
| Notes: | ||||
| b. Hybrid Recordkeeping Fee |
| Provide an annual fee quote (to be invoiced quarterly and paid for using the fees deducted from participant accounts) on a per-participant-with-a-balance and/or percentage of assets basis to encompass all recordkeeping services as well as general education services under a single provider model. Please note that this quote may be given in terms of dollars per participant and asset-based. | WRS 457 Plan | |||
| Description | Units | Unit Price | Calculated Total | |
| # of Participants with a Balance: | 31,102 | See below | ||
| Total Assets: | 1,265,802,098 | See Below | ||
| Assumed Units | Rate | Total | ||
| Assumed Units | Unit Price | Calculated Total | ||
| Base Fees (Total $): | 1 | $0.00 | ||
| Per Participant Fee ($ / Participant): | 31,102 | $0.00 | ||
| Asset Based Fee (%): | 1,265,802,098 | $0.00 | ||
| Total Estimated Annual Base/Participant/Asset Fees: | $0.00 | |||
| Total Estimated Annual Base/Participant/Asset Fees ($ / Participant): | $ - 0 | |||
| Total Estimated Annual Base/Participant/Asset Fees (% of Assets): | 0.00% | |||
| Notes: | ||||
| d. Other Alternative Structure |
| Provide an annual fee quote (to be invoiced quarterly and paid for using the fees deducted from participant accounts) on a per-participant-with-a-balance and/or percentage of assets basis to encompass all recordkeeping services as well as general education services under a single provider model. Please note that this quote may be given in terms of dollars per participant, asset-based, or a combination of both. If you would like to propose a fee type option (i.e., $XX per participant or 0.XX%), please update the formula with one of the fee schedules and provide additional comments using the Notes box. | WRS 457 Plan | |||
| Description | Units | Unit Price | Calculated Total | |
| # of Participants with a Balance: | 31,102 | See below | ||
| Total Assets: | 1,265,802,098 | See Below | ||
| Assumed Units | Rate | Total | ||
| Assumed Units | Unit Price | Calculated Total | ||
| Base Fees (Total $): | 1 | $0.00 | ||
| Per Participant Fee ($ / Participant): | 31,102 | $0.00 | ||
| Asset Based Fee (%): | 1,265,802,098 | $0.00 | ||
| Total Estimated Annual Base/Participant/Asset Fees: | $0.00 | |||
| Total Estimated Annual Base/Participant/Asset Fees ($ / Participant): | $ - 0 | |||
| Total Estimated Annual Base/Participant/Asset Fees (% of Assets): | 0.00% | |||
| Notes: |
Drop Down
| See tab "Multiple Vendor Scenarios" |
| Decline to Bid |
| Proposed - See tab "IM Scenarios" |
| Decline to Bid |
| Q6 |
| Per-Participant ($) |
| Asset-based (%) |
| Hybrid ($ + %) |
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