Exhibit 7 - Additional Questions.xlsx
XLSX spreadsheet 24 KB Posted
- Attached to
- DMS-2425-199, (SUSORP and SMSOAP)
- Solicitation number
- ITN-12499
- Issued by
- Alachua County, Graceville City, Florida
About this file
This document is an Excel-based Exhibit 7 - Additional Questions file related to a deferred compensation plan, likely for a state or local government department. The file contains 29 detailed questions designed to solicit comprehensive information from a potential service provider about their recordkeeping system, administrative capabilities, member account management, regulatory compliance, technological infrastructure, and service delivery processes. The questions cover a wide range of technical and operational aspects, including system changes, data management, contribution tracking, distribution handling, regulatory monitoring, member communications, and specialized services like online investment advice.
The questionnaire appears to be part of an Invitation to Negotiate (ITN) for a retirement plan administrative services contract, with a focus on detailed operational capabilities and compliance mechanisms. Key areas of inquiry include data retention, disaster recovery, contribution limit monitoring, Required Minimum Distribution (RMD) processing, regulatory change communication, member communication customization, and fiduciary responsibilities. The document suggests the department is seeking a comprehensive, technologically advanced service provider capable of handling complex administrative tasks for a public sector deferred compensation plan, with an emphasis on precision, regulatory compliance, and member service.
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Text version
Additional Questions
| See ITN Section 3.5.7.7, b., for completion and submission instructions. | |
| Enter Respondent Name Here | Portfolio Page Number |
| 1 | Is your firm planning any major changes to the recordkeeping system, software or platform during the next 5 years? If yes, explain the reason for the change(s) and the potential impact to plan sponsors, administrators and members. |
| 2 | Describe the timing of any known changes or upgrades including any transition/conversion planning that might be needed leading up to the change. |
| 3 | Can your firm establish location codes by employer (university, state or county) and other member identifiers to be maintained in your firm's recordkeeping system? if yes, describe your online ad-hoc reporting capabilities with regard to employer location codes (universities, state employers) and other member identifiers used as criteria. |
| 4 | Can your firm provide data to the Department and to each employer based on location codes or other criteria? |
| 5 | Describe how Member accounts are corrected, if a negative amount is received on the remittance file. |
| 6 | Describe how a correction is reflected in the Member's quarterly statement. |
| 7 | Describe what happens if the Member's account accrued a gain. |
| 8 | Describe what happens when a Member's account has sustained a loss. |
| 9 | Describe how your organization separately tracks member contributions by account source (employer contributions, compulsory member contributions, and voluntary member contributions and rollover funds). |
| 10 | Describe any distribution payments that cannot be suspended once started. |
| 11 | Describe how any services as identified in the Contract are performed by third-parties or sub-contractors. |
| 12 | How does your firm handle account settlements after the death of the Member? |
| 13 | How does your firm handle Qualified Domestic Relations Order (QDROs)? |
| 14 | Describe your data retention for an account with no balance. |
| 15 | How quickly can files be recalled if data needs to be restored due a disaster event? |
| 16 | Describe how your firm monitors maximum deferred compensation contributions (Internal Revenue Code (IRC) 402(g) deferral limits) on a per-pay-period basis. |
| 17 | Describe how your firm monitors 15-year catch-up contributions. |
| 18 | Describe how your firm will identify members who are required to take a RMD, calculate the RMD amount, notify the member, and process the RMD? |
| 19 | The Department must verify the member’s termination date to determine eligibility for a Required Minimum Distribution (RMD). The RMD must be approved by the Department. How will your firm accommodate the Department's review and approval requirement? |
| 20 | To complete the annual Actual Deferral Percentage (ADP) and Actual Contribution Percentage (ACP) testing, how many business days prior to the due date does data need to be received and in good order? |
| 21 | Describe how the following methods are used by your firm to keep the plan sponsor up to date on regulatory changes? |
Newsletters Digital / Mobile / Telephone Email Website Webinars/Conferences
| 22 | Describe the level of customization available for member communications, and any related charges. Please indicate if electronic, print or both. |
| 23 | Does your firm provide members with on-line investment advice and/or guidance? |
If Yes, describe the services available and ensure the specific fees associated with the service are included in the Cost Reply.
| 24 | Are the Members systematically alerted that they are about to make a transaction in a fund that may be subject to any fees? |
| 25 | Will the service provider accept fiduciary responsibility for the separately managed account service? |
| 28 | Provide a list all of the separate agreements that require the Department's signature (e.g., a Managed Account Agreement). |
| 29 | Describe your plan sponsored website, is there a demo account available to view such Web capabilities? If so, please provide the access information. |
&"-,Bold"EXHIBIT 7 - ADDITIONAL QUESTIONS
&"Arial,Regular"&8DMS-24/25-199&"-,Regular"&11 &"Arial,Regular"&8 &P of &N
File details come from the government source that posted it. Updated .