ESBD_File_336458_TRS000443_Addendum_3_Final.pdf

Solicitation Name: Training Services Solicitation No.: TRS000443

Addendum No.: 3

Teacher Retirement System of Texas (TRS)

October 17, 2023

ADDENDUM No.: 3

TO

SOLICITATION NO.: TRS000443

FOR

TOTAL TRUST RISK PLATFORM WITH MANAGED SERVICES SOLUTION

DEADLINE FOR SUBMISSION OF PROPOSALS: NOVEMBER 3, 2023, @ 3:00 p.m., CENTRAL TIME

LISTED BELOW YOU WILL FIND RESPONSES TO SUBMITTED QUESTIONS AND A CHANGE TO THE

SOLICITATION

ISSUED BY:

Aundre Petty, Contract Specialist Date: October 17, 2023

NOTE: VENDORS ARE REQUESTED TO ACKNOWLEDGE RECEIPT OF THIS ADDENDUM BY SIGNING AND DATING BELOW AND INCLUDING WITH SUBMITTED RESPONSE. RESPONSE MAY BE CONSIDERED NON-

RESPONSIVE IF THIS COVER PAGE IS NOT SIGNED AND RETURNED.

RESPONDENT SIGNATURE DATE

10/17/2023

Addendum No.: 3

QUESTIONS AND ANSWERS

1) Question: On the cover sheet of the Addendum 1, it says deadline for submission of proposals is October 9th. Should this say November 3rd? Also, wanted to confirm this addendum is requested to be completed and returned by November 3rd?

Answer: The addendum 1 cover page along with the Notices, Representatives and Records Location form should be submitted with the rest of your proposal no later than November 3, 2023.

2) Question: Sorry Aundre, the first page of the addendum says deadline for submission of proposal is Oct 9th. I thought that’s the deadline for the questions round. Does this mean this sheet needs to be signed and returned before that? And how do we return the signed page with responses? Has it been added to the Questionnaire section? Or do we just email back to you?

Answer: The addendum cover pages along with the Notices, Representatives and Records Location Form will need to be uploaded to the PAVES Questionnaire under “Additional Response Documents/Acknowledgement of Addenda.”

3) Question: We already have a contract in place with TRS using the TRS contract format, including TRS General Terms and Conditions. Should we win, can we add to the existing contract for this service? Or is a new contract required?

Answer: A new contract will be required.

4) Question: For “Section 1 Historical VaR Simulation Model, part c) Customization of calculation parameters including decay, confidence level and scenario blending,” what type of scenario blending are you looking for?

Answer: Scenario blending refers to averaging scenarios around the specific scenario correlated with the VaR confidence level. For example, with 100 observations at the 95% confidence level and scenario blending of 3, we’d expect to see VaR averaged across 92 to 98% scenarios.

5) Question: The price form specifies annual costs, but if we have a one-time implementation fee, how should we include that? Do we lump into first year cost, or do we put in 2 numbers in the first year to delineate them?

Answer: Implementation fees (if applicable) must be incorporated into the first year cost.

You may add a comment to the bottom of the price form to delineate the make up of that cost.

Addendum No.: 3

6) Question: In the Pricing part of the Questionnaire, it says that “If the awarded Contract includes optional renewal terms, the proposed annual pricing will be applied to each renewal term. Price escalation for renewal terms is not permitted under this Solicitation.” What does “pricing escalation not permitted” mean? Does it mean that the annual pricing we put into the pricing form must be the same for every year? Or does it just mean that we cannot assess any additional price escalations during the contract period that’s not quoted in the price form

Answer: Once Respondent has established yearly pricing on the pricing form, additional pricing may not be assessed throughout the term of the contract.

SOLICITATION CHANGES

1) The following Minimum Qualification is being added as “Item 5” to the solicitation:

Minimum qualification(s) must be met by the Respondent or the response will be rejected.

Item 5. Respondents must be capable of obtaining TX RAMP Certification (if required) before being awarded a contract.

Respondent must affirmatively state, in the PAVES questionnaire, that they meet each minimum qualification by submitting an attachement that includes a description of how each minimum qualification is met.