ESBD_453821_1757960933537_Exhibit B - RFP 2509-001 Response for Central Health - Retirement Plan Advisor.xlsx
XLSX spreadsheet 41 KB Posted
- Attached to
- RFP 2509-001 Retirement Plan Advisor
- Solicitation number
- 2509-001
- Issued by
- Travis County, Austin City, Texas
About this file
This document is a Request for Proposal (RFP) #2509-001 for Employee Retirement Advisor Services issued by Travis County Healthcare District (Central Health), seeking a retirement plan advisor. The RFP targets a comprehensive retirement plan advisory service for an organization with 2,100 eligible employees, with a proposed contract start date of November 1, 2025. The solicitation seeks a strategic partner to provide ongoing retirement plan consulting, including services such as fiduciary support, vendor management, compliance monitoring, employee education, plan design assistance, and strategic retirement benefit management.
The fee structure is based on a comprehensive proposal that requires detailed pricing transparency, with the expectation of providing a transparent breakdown of implementation, administrative, and ongoing service fees. The ideal vendor will demonstrate expertise in managing 401a and 457 plans, have experience with public sector entities, provide robust technology platforms for reporting and analytics, and offer innovative solutions for cost management and employee retirement benefits. Key evaluation criteria include the firm's financial stability, client support model, compliance capabilities, technology infrastructure, and ability to provide strategic guidance in retirement plan management. The RFP emphasizes the need for a proactive, technologically advanced partner who can support Central Health's unique organizational complexities and strategic objectives.
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RFP Supplier Response Template RFP 2509-001 - Retirement Plan Advisor - Supplier Response Template
| General Questionnaire Template | |
| RFP Instructions - Complete the information requested in the light yellow shaded cells for all tabs: RFP Supplier Response Template, Client Information, and Fee Proposal. Submit this form electronically with additional required documentation. | |
| RFP # | RFP 2509-001 |
| RFP Title | Employee Retirement Advisor Services |
| RFP Submission Requirements | |
| Business Information / Company Background | |
| Business Name | |
| Federal Tax ID | |
| Address 1 | |
| Address 2 | |
| City | |
| State | |
| Zip | |
| Contact Name | |
| Contact Title: | |
| Contact Phone # | |
| Contact Fax #: | |
| Contact email: | |
| Business Website: | |
| Name/Title of individual authorized to contractually commit company | |
| Name/Title | |
| Products and/or service provided by business: | |
| Number of years in business: | |
| Number of years your firm has been servicing retirement plan clients? | |
| Duns #: | |
| Type of business entity (Corporation/LLC/LP/LLP/Other) | |
| In what state & year did your business organize in your current structure? | |
| Is business or parent publicly traded? | |
| Full legal name of parent or holding company, if any: | |
| Is your company a subsidiary or affiliate of another company? If yes, please identify the company (ies) involved. | |
| Within the last 24 months, has your firm been acquired? With the last 24 months, has your firm acquired another organizations which increased gross revenues by 15% or more? If yes, please provide details on the other party involved, the services provided, and the stage of integration. | |
| Products and/or service provided by business: | |
| Provide an overview and details of your companies network | |
| Ability to Perform/Provide / Advisor Qualifications & Expertise | |
| Business Performance | |
| Provide a brief overview of the services your company offers for Retirement Plan Advisor Services | |
| What is your firm's position in the employer sponsored retirement plan business? Include total assets under advisement and total number of Retirement Plan clients. | |
| Provide an implementation timeline and plan based on award of the business by October 01, 2025, with an effective date of November 01, 2025. | |
| How many accounts does your company currently manage that is comparable in size and scope to us? | |
| Please provide information regarding your company's financial strength and stability. | |
| Please describe your experience working with 401a and 457 plans. Include how many 401a plans, 457 plans, and DC plans you currently service. What percentage of your business does this represent. | |
| Demonstrate extensive experience and expertise in providing employee retirement benefits consulting services, particularly for public sector entities or organizations of similar size and complexity to Central Health. How do you support the unique complexities? | |
| Provide proof of all necessary state and federal licenses and certifications required to provide the services outlined in this RFP. | |
| Evidence of Errors & Omissions (E&O) insurance with limits per occurrence. | |
| Indicate any subcontractors or partners, you are proposing to use, the length of the relationship and the services to be performed. | |
| Comprehensive biographies and qualifications for each proposed team member who will be directly assigned to Central Health's account, including their specific roles and relevant experience. Please attached resumes of each team member that will be assigned to our account | |
| Submit client portfolio, including a list of former and existing clients for whom you performed a comparable set of services. For each client listed in your portfolio, please specify which of the services/programs they currently utilize that are similar to those outlined in Central Health's RFP. Ensure that at least one reference utilizes a retirement benefit plan similar to Central Health. | |
| Describe what makes your services unique when compared to any other retirement plan service provider in the industry. | |
| Describe any past or pending litigation, within the last 5 years, relating to the services being proposed. | |
| References: Provide references (names, address and telephone numbers) for three (3) clients who are currently using your services. At least one reference should currently use a benefit plan similar to the Option being strongly considered by Travis County Healthcare District. Please indicate which specific services/programs they use. | |
| Reference 1 | |
| Organizations Name | |
| Contact Names | |
| Telephone numbers | |
| Type of services provided | |
| How long have you served this client | |
| Reference 2 | |
| Organizations Name | |
| Contact Names | |
| Telephone numbers | |
| Type of services provided | |
| How long have you served this client | |
| Reference 3 | |
| Organizations Name | |
| Contact Names | |
| Telephone numbers | |
| Type of services provided | |
| How long have you served this client |
Client Information
| Travis County Healthcare District Information | ||
| Eligibility Transfer Method | EDI - UKG Ready | |
| Definition of Eligible Employee | Employees working 20 or more hours per week. | |
| Waiting Period | 120 Days | |
| Plan Information | Current Company | |
| Plan Year | January through December | |
| # Eligible Employees | 2100 |
Advising
| Employee Retirement Advisor Services | |
| Question | Response |
| Client Support & Account Management | Describe your firm's ongoing client support model and how you ensure high-quality service and proactive engagement. |
| Describe your standard client service model, including frequency and format of meetings (e.g., quarterly reviews, ad-hoc consultations). | |
| Your internal mechanisms for ensuring client satisfaction and resolving issues promptly. Provide details on typical response times for inquiries. | |
| How will your team measure its own performance in servicing Central Health's account, including any Service Level Agreements (SLAs) or key performance indicators (KPIs) you track. | |
| Business or Customer Service center location. | |
| Customer Service hours. | |
| Describe the team that will be assigned to our account, include titles and descriptions of the role each member plays. | |
| Describe your experience and process for developing, compiling, and providing comprehensive Employee Benefits Open Enrollment Guides and Ongoing Guides. | |
| How many different Recordkeepers / Administrators does your firm / team partner with? | |
| What is your approach to employee communication and education regarding retirement benefits, including support for open enrollment meetings and ongoing employee inquiries. | |
| Describe your rigorous review process for all retirement benefit contracts, plan documents, and related materials, including how you proactively identify and recommend strategic revisions . | |
| Explain your process for developing and maintaining Plan Documents to ensure ongoing compliance. | |
| Detail your approach to developing and delivering engaging and accessible educational content for employees through various formats. | |
| How will you provide expert assistance with conducting thorough audits to ensure full compliance with regulatory requirements and accurate eligibility verification? | |
| If Central Health opts to solicit for new retirement benefits providers, describe your strategic assistance in developing robust solicitation documents (e.g., RFPs, RFQs) and effective evaluation formats. | |
| Detail the expert support and strategic guidance you provide during contract negotiations to secure the most favorable terms and conditions. | |
| Describe your day-to-day account management services, including how you monitor vendor performance, emerging trends, best practices, and legislative changes . | |
| Outline your approach to establishing an annual calendar of tasks, timelines, deadlines, and responsible parties to ensure no lapses in retirement related benefits. | |
| Describe your approach to developing comprehensive meeting agendas and leading strategic vendor summits on a regular basis to proactively identify, analyze, and develop actionable solutions to address performance concerns. | |
| How will you collaborate closely with Central Health staff to strategically address and resolve complex issues and challenges arising with retirement vendors and vendor contracts? | |
| How will you provide Fiduciary training to the Retirement Plan Committee? | |
| Explain your process for providing letters of appointment and acceptance for committee members. | |
| Describe your provider benchmarking services. | |
| Describe common oversights organizations make when transition to a new plan Recordkeeper / Administrator and how you mitigate these. | |
| Do you have a dedicated team to support participant education and communication programming? | |
| Please list the services and provide samples of the resources your firm provides to plan participants. | |
| Proposed Approach & Methodology | Demonstrate your understanding of Central Health's unique culture, employee demographics, and strategic priorities. |
| Describe your firm's philosophy on providing retirement plan investing Advising and your overall approach to client relationships. | |
| Do you have an internal compliance team? If yes, please describe its staff and years of experience. | |
| How do you update your system and staff on new legislation or regulations? | |
| Beyond standard claims reporting, describe your capabilities in providing advanced analytics, including predictive modeling, to forecast future retirement costs and identify high-risk individuals or trends within our population. | |
| Describe your approach to integrating financial wellness programs into the overall benefits strategy. | |
| Describe your approach to actively researching, analyzing, and presenting cutting-edge best practices and innovative solutions for all retirement benefit plans offered. | |
| How will you evaluate how proposed changes may affect the Plan's competitiveness, participants, and administration? | |
| Explain how you assist in managing Fiduciary files? | |
| How is the investment policy statement managed? | |
| What support do you provide to assist with Plan Design? | |
| How are you supporting clients with the Secures Act 2.0? | |
| Describe potential conflicts of interest that may arise with the proposed advisory relationship. | |
| Strategic Management & Innovation | Central Health is seeking a partner who can provide innovative solutions to manage costs effectively while maintaining competitive retirement benefits. |
| Describe your firm's philosophy and methodology for strategically controlling retirement benefits costs, including specific tactics and strategies you have successfully implemented for other clients. | |
| What is your approach to identifying and recommending innovative retirement benefit programs, retirement wellness initiatives, or alternative funding mechanisms that align with Central Health's objectives. | |
| How do you stay informed about emerging trends and innovations in the employee retirement benefits marketplace and how you proactively share this knowledge with clients. | |
| Describe your ongoing functional and financial analysis process for retirement benefit programs, including how you identify gaps, overlaps, and evaluate cost-effectiveness. | |
| How will you continuously monitor and assess the financial stability and credit quality of all retirement benefit vendors and their obligations (e.g., through ratings from agencies like A.M. Best)? | |
| Do you recommend any proprietary investment products? If yes, describe any requirements related to including those products and if tied to pricing. | |
| Describe the fund performance review process. Including how you select funds and your monitoring methodology. | |
| Describe the fund recommendation or replacement process. | |
| What is the maximum number of investment fund options our plan can have? Are there any limitations to the number or kind of options? | |
| Technology and Reporting Capabilities | Central Health seeks a partner who leverages modern technology to enhance efficiency, transparency, and employee experience. |
| Describe your reporting capabilities. Include copies of any standard reports. | |
| Describe your capabilities for providing detailed claims analysis, utilization reports, and financial projections. Please provide examples of such reports. | |
| Describe the technology platforms and tools your firm utilizes for benefits administration, reconciliation, data analytics, and client communication. | |
| How are reports received? | |
| How does your firm uses technology to stay abreast of market trends and regulatory changes, and how this information is disseminated to clients. | |
| What is your approach to leveraging technology in the process of soliciting and evaluating proposals from benefits providers on behalf of clients. | |
| Confirm that all reports provided can be easily downloaded into a manipulable format (e.g., Microsoft Excel) to allow Central Health staff to further analyze and utilize the data. | |
| Describe your firm's processes and workflows for the handling and disclosure of Protected Health Information (PHI). Explain in detail how your systems and procedures ensure HIPAA compliance for data security and privacy. | |
| How does your technology solutions support efficient data exchange, reporting, and compliance (e.g., ACA reporting). | |
| Detail your process for providing meticulously detailed discrepancy and reconciliation reporting for monthly billing statements and assisting in the timely and accurate resolution of all identified discrepancies. |
Fee Proposal
| Fee Structure and Transparency | Proposers must submit a clear and comprehensive fee proposal. We require the use of this provided Excel template for the fee schedule. |
| Clearly itemize any one-time implementation or set-up fees associated with onboarding, system integration, or initial plan establishment. | |
| State and describe your administrative fee and specify its cadence (e.g., monthly, quarterly, annually). | |
| A detailed breakdown of all fees associated with the services outlined in this RFP, including any recurring fees, one-time charges, and fees for optional services. | |
| List any performance guarantees or incentives tied to cost savings or other metrics. | |
| Indicate if there is a minimum monthly fee or a minimum annual fee that applies regardless of employee count or utilization. | |
| Annual Discrimination Testing |
(Also, provide the cost for additional tests, if necessary).
| Clarify whether Annual Discrimination Testing (e.g., for Section 125, 401(k), etc.) and the Preparation of Plan Documents are included in your base administrative fee or if they are separate charges. If separate, provide the associated costs for these services, including the cost for any additional tests beyond the annual standard. | ||
| Specify your Annual Renewal Fee for ongoing services. | ||
| Preparation of Plan Documents | ||
| If your compensation is not solely fee-based, please provide a detailed explanation of all sources of compensation, including but not limited to, commissions, overrides, bonuses, or other incentives received from carriers, TPAs, or other third-party vendors. Clearly state how these are calculated and disclosed. | ||
| Length of time your fees are guaranteed not to change | ||
| Following the initial guaranteed fee period, what is your proposed mechanism for annual fee adjustments (e.g., CPI-based, fixed percentage, re-negotiation)? Please describe any caps or limits on such increases. | ||
| Describe your standard payment terms (e.g., net 30 days). Provide a sample invoice and explain your invoicing frequency and process. | ||
| Please clearly state all assumptions used in generating your estimated annual fees for the first three years (e.g., number of employees, utilization rates, specific services included in the base fee). Any deviations from the RFP's stated parameters should be highlighted here. | ||
| Estimated Annual Fees | For the Estimated Annual Fees (First, Second, and Third Year), please clearly state all assumptions used in generating these figures (e.g., projected employee count, expected utilization, specific services included in the annual total). Any deviations from the RFP's stated parameters should be highlighted. | |
| Estimated First Year Fees : | ||
| Estimated Second Year Fees | ||
| Estimated Third Year Fees | ||
| Additional Services | Included/Not Included | Associated Fees |
| Electronic Education Materials | ||
| Beyond basic electronic education materials, describe any interactive or personalized employee communication tools, portals, or mobile applications you provide to enhance employee understanding and engagement with their benefits. Are these included in the base fee or an additional cost? | ||
| Beyond ACA and HIPAA, what other regulatory compliance support (e.g., ERISA, COBRA, state mandates, Section 125 rules) does your firm provide? Detail any compliance audits, legislative updates, or training sessions offered, and whether these are included in the base fee. | ||
| Note: All fees, including current, are net of commissions. |
Include with your proposal submission a schedule of all potential account fees, etc.
Please see the attached proposal's pricing page with all fees listed.
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