Attachment F - Quarterly Authorized Product Performance and Fee Report.pdf

Attachment F is a quarterly performance and fee report template issued by the Florida Department of Management Services (DMS), Division of Retirement, for the State University System Optional Retirement Program (SUSORP) and Senior Management Service Optional Annuity Program (SMSOAP). The template is designed to capture comprehensive performance metrics for investment service providers, including quarterly and annual returns, Sharpe ratios, standard deviations, Morningstar star ratings, net expense ratios, and manager tenure across various investment timeframes and categories. This document will be used as part of the ITN No. DMS-24/25-199 solicitation to evaluate potential retirement program service providers for approximately 18,000 SUSORP members and 95 SMSOAP members.

The performance report template supports a procurement process where vendors will be assessed on their investment product performance, with the goal of selecting a bundled service provider responsible for recordkeeping, administrative services, member self-service systems, data management, tax processing, education and communication services, and investment management. The evaluation will utilize a 500-point technical scoring system and a 300-point cost evaluation, with current service providers including Corebridge Financial, Equitable, TIAA, and Voya. The contract will be compensation-based through fees charged to program members, with no direct costs to the Department or employers, and the selected vendor must maintain a $2 million performance bond. The total current plan assets are $8,265,248,200.21, with TIAA holding the largest share at $5,254,020,079.57, indicating a significant potential contract value.