DMS-2223-137-PUR_7776.pdf

PUR 7776 (Revised 07/2022) Page 1 of 2

Incorporated by Reference: Rule 60A-1.045, F.A.C.

DESCRIPTION OF INTENDED

SINGLE SOURCE PURCHASE

(PUR 7776)

AGENCY: Department of Management Services (DMS)

TITLE: Pension Administration Benchmarking Services

Short description of the commodity or service desired: 84111501-Cost Accounting/

Benchmarking Services

CONTACT

Name: Alisha Morgan

Address: 4050 Esplanade Way

Telephone: 850-413-7190

Email: Alisha.Morgan@dms.fl.gov

Internal tracking number, if any: DMS-22/23-137

Date posted: Last day for receipt of information:

This description of commodities or contractual services intended for purchase from a single source is posted in accordance with Sections 120.57(3) and 287.057(3), Florida Statutes (F.S.), and will remain posted for a period of at least 15 business days.

Commodity or Contractual Service Required (commodity or United National Standard Products and Services Code (UNSPSC), manufacturer, model, and description, as appropriate):

84111501-Cost Accounting. Benchmarking services.

Quantity or Term (as appropriate):

September 12, 2023-September 11, 2026

Requestor (division, bureau, office, individual, as appropriate):

Division of Retirement

Performance and/or Design Requirements (e.g. intended use, function or application, compatibility, requirements; reference to policy, rule, statute or other act of the Legislature, etc., as appropriate):

Per Chapter 121, F.S., the Department has been designated as the entity responsible for administering the Florida Retirement System (FRS), which is currently the fourth largest state retirement system in the US with more than 2.6 million active, retired, and terminated vested and non-vested members and $180 billion in assets.

The Department currently utilizes pension administration benchmarking services and believes that the collection of key data in a common format, which is then compared to similar data from peer systems, would continue to assist the Department in identifying and implementing best practices that lead to efficiencies and cost-savings.

PUR 7776 (Revised 07/2022) Page 2 of 2

Incorporated by Reference: Rule 60A-1.045, F.A.C.

Intended Single Source:

Pension Administration Benchmarking Services from CEM Benchmarking, Inc.

Estimated Dollar Amount:

$59,000.00 per year (totaling $177,000.00 over three year term)

Justification for single source acquisition (what is necessary and unique about the product, service or source; steps taken to confirm unavailability of competition, as appropriate):

CEM Benchmarking has a proprietary service score model that computes a quantitative score based on over 700 individual data points, providing an apples-to-apples comparison of service relative to similarly sized peers. This work is complemented by in-depth cost benchmarking, which provides the user with a holistic picture of value-for-spend. No other company collects data on this granular of a level, nor with the level of standardization and review that CEM

Benchmarking provides. They have been collecting the aforementioned service and cost data for over 24 years from plan sponsors.

DMS completed a market analysis and could not find any competitors. CEM Benchmarking was awarded a single source award from New York State Office of State Comptroller with a contract term from 7/1/2022-6/30/2027. In addition, CEM Benchmarking works with various public pension plans in the US. In no particular order, they work with plans from California, Idaho, Illinois, Michigan, Pennsylvania, Texas, and many others. The services were procured in a variety of ways, from a process with their procurement groups, or working directly through a decision-maker on the client side.

Approved By (names & titles, as appropriate, e.g., requestor, requestor management, information systems, budget, purchasing):

Shaundra Mitchell, Deputy Chief of Business Support Services, DMS Division of Retirement

Valerie Reglat, Deputy Director of Technology and Suport Services, DMS Division of

Retirement

John Dickson, Retirement Budget Manager, DMS Division of Retirement

Kathy Gould, State Retirement Director, DMS Division of Retirement

Alisha Morgan, Departmental Technology Purchasing Manager, DMS Division of Finance and

Administration

Andrew Fier, Departmental Purchasing Director, DMS Division of Finance and Administration

Kathryn Jones, IT Managing Attorney, Office of General Counsel

Lance Dyal, Chief Financial Officer, DMS Division of Finance and Administration

Pedro Allende, Secretary, DMS Office of the Secretary

Prospective vendors are requested to provide information regarding their ability to supply the commodities or contractual services described. If it is determined in writing by the agency, after reviewing any information received from prospective vendors, that the commodities or contractual services are available only from a single source, the agency shall provide notice of its intended decision to enter a single-source purchase contract in the manner specified in Rule 60A-

1.045, Florida Administrative Code, and section 120.57(3), F.S.