Attachment F - List of Authorized Products.pdf

Attachment F is a product authorization list for Investment Consulting and Monitoring Services issued by the State of Florida Department of Management Services, Division of Retirement, under ITB No. DMS-25/26-039. The solicitation establishes a contract to provide investment consulting and monitoring services for the State University System Optional Retirement Program (SUSORP) and the Senior Management Service Optional Annuity Program (SMSOAP). The scope of work requires the selected contractor to deliver a minimum of four quarterly investment reviews and reports due within 20 business days of each quarter-end date, one comprehensive annual investment review and report, verbal performance reviews within 25 business days of quarter-end dates, and ad hoc consulting services on an as-needed basis. The contractor must perform all work remotely and acknowledge written requests for ad hoc services within two business days. The question deadline is May 1, 2026, with bid submissions due by May 20, 2026, at 2:00 PM Eastern Time and a public opening at 3:00 PM Eastern Time in Tallahassee, Florida. Award is anticipated on June 1, 2026, with a contract start date of August 8, 2026. The initial contract term is three years commencing August 8, 2026, with potential renewal for up to three additional years.

The authorized product list comprises 25 mutual funds (including Vanguard, DFA, JP Morgan, and State Street offerings), six fixed accounts (Corebridge, Voya, and Equitable), and three annuity options. Award will be made to the responsive and responsible bidder submitting the lowest total weighted price using the formula: Initial Term Reviews and Reports (50%), Renewal Term Reviews and Reports (40%), and Initial and Renewal Terms Ad Hoc Consulting Services (10%). The historic annual spend for these services is approximately $12,000 for informational purposes only and does not represent guaranteed or minimum spend. Current service providers include Equitable, TIAA, VALIC, Voya Financial, and Empower, though the solicitation does not restrict these organizations from bidding. The contractor must obtain commercial general liability insurance of $1,000,000 per occurrence and $2,000,000 aggregate, workers' compensation insurance as required by law, and professional indemnity insurance of $250,000 per claim and in aggregate. All prices must remain firm for the life of the contract with no price adjustments permitted. Payments will be made quarterly in arrears, with funding sourced from the Optional Retirement Program Trust Fund. SUSORP manages approximately $7.5 billion in assets for approximately 18,000 active members and over 30,000 inactive members, while SMSOAP manages approximately $14.6 million in assets for about five active and 128 inactive members.