Fiduciary_Services_for_Deferred_Compensation_Consulting_Services_(Addendum_#1_Revision).pdf

REQUEST FOR PROPOSAL

RFP-604926-25/LNF

FIDUCIARY SERVICES FOR DEFERRED

COMPENSATION CONSULTING SERVICES

1301 East Second St.

Sanford, FL 32771

RELEASE DATE: March 19, 2025

DEADLINE FOR QUESTIONS: April 7, 2025

RESPONSE DEADLINE: April 30, 2025, 2:00 pm

RESPONSES MUST BE SUBMITTED ELECTRONICALLY TO:

https://secure.procurenow.com/portal/seminolefl https://secure.procurenow.com/portal/%7bproject.government.code%7d

Seminole County

RFP #RFP-604926-25/LNF

Fiduciary Services for Deferred Compensation Consulting

Services

TABLE OF CONTENTS

I. Introduction II. Scope of Services

III. Instructions to Proposers IV. Instructions for the preparation of Submittals V. Evaluation Phases

Attachments:

A - Draft Agreement (RFP-604926-25)

B - Exhibit C - Price Proposal

C - Attachement A - Expense Ratio_Seminole County Property Appraiser 457

D - Attachment A - Expense Ratio_Seminole County Board of County Commissioners 457

E - Attachment A - Expense Ratio_Seminole County Clerk of the Circuit Court 457

F - Attachment A - Expense Ratio_Seminole County Sheriff's Office 457

G - Attachment A - Expense Ratio_Seminole County Supervisor of Elections 457

H - Attachment A - Expense Ratio_Seminole County Tax Collector's Office 457

I - Attachment B - PlanHealthReport_06-30-2024 Seminole County BOCC

J - Attachment B - PlanHealthReport_06-30-2024 Seminole County Clerk of the Circuit Court

K - Attachment B - PlanHealthReport_06-30-2024 Seminole County Property Appraiser

L - Attachment B - PlanHealthReport_06-30-2024 Seminole County Sheriff Office

M - Attachment B - PlanHealthReport_06-30-2024 Seminole County Supervisor of Elections

N - Attachment B - PlanHealthReport_06-30-2024 Seminole County Tax Collectors Office

Title: Fiduciary Services for Deferred Compensation Consulting Services

1. Introduction

1.1. Summary

Seminole County seeks a consultant to evaluate the performance and cost of investment options offered to participants and present a report to the Deferred Compensation Plan Review Committee on an annual basis. The Consultant shall also provide general consultation services regarding Section 457(b) Deferred Compensation Plan compliance and fiduciary duties.

1.2. Background

Seminole County Board of County Commissioners (“Seminole County”) is hereby requesting proposals for Section 457(b) Deferred Compensation consulting services in accordance with the specifications listed herein. Seminole County offers the Deferred Compensation Program (DCP) to employees of the Board of County Commissioners as well as employees of five (5) constitutional officers (Sheriff, Property Appraiser, Supervisor of Elections, Clerk of Circuit Court, and Tax Collector). There are approximately 3,200 employees eligible to participate and two thousand, three hundred and sixty-eight (2,368) participants as of June 30, 2024. As of that date, plan assets totaled approximately one hundred forty-two million ($142,000,000). Participants currently have a variety of investment options from which to choose offered by Nationwide, who also serves as the Plan’s record keeper (please refer to Attachment A

- Expense Ratio and Attachment B - Plan Health Report, for a list of investment options).

Employees have the option to contribute to the plan on a pre-tax basis (traditional account).

1.3. Contact Information

Leticia Figueroa Senior Procurement Analyst 1301 East Second Street Sanford, FL 32771 Email: lfigueroa@seminolecountyfl.gov Phone: (407) 665-7119

Department:

Resource Management

1.4. Timeline

Release Project Date March 19, 2025

Question Submission Deadline April 7, 2025, 5:00pm

Proposal Submission Deadline April 30, 2025, 2:00pm mailto:lfigueroa@seminolecountyfl.gov tel:(407)665-7119

2. Scope of Services

2.1. PROJECT DESCRIPTION

BACKGROUND

Seminole County Board of County Commissioners (“Seminole County”) is hereby requesting proposals for Section 457(b) Deferred Compensation consulting services in accordance with the specifications listed herein. Seminole County offers the Deferred Compensation Program

(DCP) to employees of the Board of County Commissioners as well as employees of five (5) constitutional officers (Sheriff, Property Appraiser, Supervisor of Elections, Clerk of Circuit

Court, and Tax Collector). There are approximately 3,200 employees eligible to participate and two thousand, three hundred and sixty-eight (2,368) participants as of June 30, 2024. As of that date, plan assets totaled approximately one hundred forty-two million ($142,000,000).

Participants currently have a variety of investment options from which to choose offered by

Nationwide, who also serves as the Plan’s record keeper (please refer to ATTACHMENTS:

Attachment A – Expense Ratio and Attachment B – Plan Health Report, for a list of investment options). Employees have the option to contribute to the plan on a pre-tax basis (traditional account).

Seminole County seeks a consultant to evaluate the performance and cost of investment options offered to participants and present a report to the Deferred Compensation Plan Review

Committee on an annual basis. The Consultant shall also provide general consultation services regarding Section 457(b) Deferred Compensation Plan compliance and fiduciary duties.

1. SERVICES RELATIVE TO REVIEW AND ANNUAL REPORTING

Provide at least annual written and oral reports as requested by the County, which include, but shall not be limited to, the following:

1. An economic overview and general market conditions for the reporting period.

2. A comparison of each investment option’s performance to appropriate market indices and universes of similarly managed vehicles.

3. A verification of investment style of each investment option.

4. A measurement of the risk characteristics of each investment option.

5. Historical performance with a focus on consistency.

6. Morningstar or equivalent ratings.

7. Comments on manager tenure and on the popularity of funds among participants.

8. A review of expenses and returns of each fund option.

9. An analysis of the extent to which investment policies have been carried out and how they have affected actual fund performance.

10. Recommendations for alternatives to address any of the above.

11. A summary of findings and recommendations based on individual funds’ strengths and/or weaknesses in the Plan.

12. A review of plan participant fund selections by age.

• Present annually to the Board of County Commissioners proposed new investment products and terminations for review and approval. As of September 30, of each year present an annual performance report to the County on or before December 1 which shall contain text, statistical and graphic presentation of at least the following:

1. Investment Provider Information, Product Summary and Glossary of essential terms

2. Accounts, deferrals, assets and distributions to include Summary of Participant accounts, deferrals, plan assets and distributions

3. Detail of fixed accounts

4. Annualized investment products performance report

5. Plan participant survey report (similar to that used by the State of Florida)

• Meet Quarterly with the Deferred Compensation Review Committee to review Investment

Product performance, new or terminated investment products or any other matters of importance during the fiscal year.

• At least semi-annually, review the following information from each fixed account investment offering a guarantee of principal and interest:

1. Average Maturity and Average Life of the fixed account(s)

2. Effective duration to average maturity and average life as appropriate for use in the crediting rate formula

3. Market value vs Book Value

4. Current Investment Policy Statement Compliance Letter

5. Underlying Investment Portfolio guidelines regarding allocation to Sectors, Ratings, Derivatives, types of securities

6. Sector weightings

7. Average ratings of corporate bonds held and percentage (%) of whole portfolio with ratings below BBB+

8. Crediting Rate Formula

9. Reporting of any changes in the operation of a fund

10. List of people who can make changes involving the fund

2. SERVICES RELATIVE TO GENERAL CONSULTATION DURING CONTRACT TERM

• Provide general consultation to the Deferred Compensation Plan Review Committee as needed regarding the Plan document, design and operation of the DCP, written Investment

Policy Statement, strategic goals, communication and detailed investment education programs, industry best practices for both internal and Plan service provider procedures, implementation of new federal laws and regulatory changes, etc.

• Provide a Financial Wellness Program initiative for plan participants, including but not limited to financial advice and counselling, and financial education programs and workshops.

• Provide technical assistance relative to Request for Proposal (RFP) development and proposal evaluations for a deferred compensation provider and contract negotiations. Develop an RFP to obtain needed services for the plan (timeline for consultation, current market services and trends, advertising and distribution of the RFP, evaluation criteria and tools for review of proposer responses).

• Provide a comprehensive detailed report analyzing and comparing all responses to the

RFP including, but not limited to, recommendations with supporting detail. The report must include a comprehensive review of bidder fund options compared to current fund options including preliminary mapping of transfer of funds.

• For each investment option that is proposed by bidders in response to the RFP, the

Consultant will provide a report with a full analysis of the investment options which includes, but not limited to, the following:

o The risk and return and other financial characteristics of the investment funds, so that participants may select among investment funds that are materially different from one another.

o Each investment option will be reviewed for administrative, accounting and transaction processing factors to ensure that participants’ elections may be executed in a timely manner and that reports and statements are produced as required.

o Recommendation of an allocation process that focuses on the relative attractiveness of broad asset categories for plan participants.

o Identify and recommend individual funds appropriate to each of the various broad asset classes from which participants may make individual investment selections.

o Furthermore, the report shall also include a thorough examination of the following for each individual fund:

Tenure of management and fund reputation.

Long-term performance and relative risk as measured by standard deviation and/or

24-month rolling alpha.

Competitive and consistent performance measured against an appropriate benchmark (3, 5 and 10-year periods should be measured and evaluated).

Consistency of investment objectives and investment approach.

Each fund should be a diversified fund.

The selected funds should have fees that are reasonable and competitive with similar funds offering a similar range of services.

o Provide primary support for the negotiation process.

3. SERVICES SHOULD A NEW PLAN PROVIDER BE SELECTED:

Develop a strategy to successfully migrate from the current investment options and record keeping services to a new service provider if a new plan service provider is selected.

Review education and participant training materials developed by the new plan service provider, if one is selected, for completeness and accuracy. Recommend changes to education and participant training materials to assure materials are complete and accurate.

As required, assist in meeting with or making presentations to various employee groups relative to the selection of a new plan provider and the transition process.

4. INDEPENDENT INVESTMENT CONSULTANT RELATIONSHIP

The Investment Consultant is, and shall be, in the performance of all work, services, and activities under the resulting Contract, an independent Investment Consultant, and not an employee, agent or servant of the County.

The Investment Consultant shall act solely in a fiduciary capacity for the County and shall not receive any fee or compensation based upon the purchase or sale of securities but, rather, the

Consultant shall be compensated pursuant to the provision of its Contract.

All persons engaged in any of the work or services performed pursuant to the Contract shall at all times, and in all places, be subject to the Consultant’s sole direction, supervision, and control. The Consultant shall exercise control over the means and manner in which it and its employees perform the work, and in all respects the Investment Consultant’s relationship and the relationship of its employees to the County shall be that of an Independent Investment

Consultant and not as employees or agents of the County.

The Investment Consultant does not have the power or authority to bind the County in any promise, agreement, or representation other than as specifically provided for in the resulting

Contract.

3. Instructions to Proposers

3.1. Contact

All prospective Proposers are hereby instructed not to contact any member of the Seminole

County Board of County Commissioners, the County Manager or Deputy Manager, or any

Seminole County Staff members other than the noted Purchasing & Contracts Division (herein referred to as ‘PCD’) Contact Person, PCD ADMIN, regarding this RFP or their written proposal at any time prior to the posting on the COUNTY’S Website of the recommendation and intent to award by County staff for this project. Any such contact shall be cause for rejection of your proposal. Interpretation of this clause will be solely at the discretion of the COUNTY.

3.2. Pre-Proposal Conference

There will not be a Pre-Proposal Conference for this RFP.

3.3. Public Opening

Electronic submittals shall be received by PCD online in accordance with the instructions in this solicitation documents, unless otherwise revised via posted Addenda. Persons with disabilities needing assistance to participate in the Public Opening should call the noted PCD Contact

Person at least forty-eight (48) hours in advance of the Public Opening at (407) 665-7116. The

Public Opening via ZOOM https://us06web.zoom.us/j/84499184101?pwd=UVhDbk9IS3lnZkZUMW9WV01vWlp3UT09 /

Meeting ID: 844 9918 4101 / Passcode: 760550

3.4. Delays

The COUNTY, at its sole discretion, may delay the scheduled due date and time for submission, if it is to the advantage of the COUNTY to do so. The COUNTY will post all changes in the scheduled due date and time for submission by written addendum posted to the COUNTY’s

Website: (https://secure.procurenow.com/portal/seminolefl)

3.5. Proposal Submission and Withdrawal

The COUNTY will accept submittals electronically via the COUNTY’s e-Procurement Portal until

2:00 pm on Wednesday, April 30, 2025. Proposals received after the scheduled due date and time for submission shall not be considered. Proposals submitted in any other format other than via the COUNTY’S e-Procurement Portal, including but not limited to, hard copy (mailed or hand delivered), facsimile, or emailed submittals, will not be accepted, nor considered. The scheduled due date and time for submission will be scrupulously observed. Companies shall register on the COUNTY’S e-Procurement Portal. Once registered, Companies may view and click "Follow" to be a prospective Proposer for this solicitation and will appear on the Follower’s list. Proposers that fail to Follow this project will not receive automatic addenda notifications, nor will they be able to draft a response in the COUNTY’S e-Procurement Portal, and therefore will be unable to participate or be considered for this RFP. If a Proposer encounters technical difficulties using the COUNTY’S e-Procurement Portal, or needs assistance using the Portal, Proposers may access the Help Center for vendor training guides provided by OpenGov-Procurement, the

Software Administrator. Proposers may also contact the Software Administrator using the real-http://help.procurenow.com/en/articles/5815468-opengov-procurement-vendor-training time chat function on the COUNTY’S e-Procurement Portal (located in lower right-hand corner of the screen), or via email at support@procurenow.com for support.

The COUNTY will not be responsible for untimely submissions due to personal or company internet or hardware limitations, settings or restrictions, internet speed, power outage, network connection, or use of a malfunctioning electronic device, or the like, neither the COUNTY, nor the Software Administrator, will be held responsible. Proposers shall be solely responsible for ensuring the capability of their computer system while responding to this solicitation, and for the stability of their internet service. Uploading large documents may take significant time depending on the size of the file(s) and the Internet connection speed that the Proposer is using to submit a response. Failure of the Proposer to successfully submit an electronic proposal before the deadline indicated herein shall be at the Proposer's sole risk, and no relief will be given for late and/or improperly submitted proposals. Once file(s) have been uploaded and the

Submission Status shows as “Submitted” the submission is complete. At that point, the

Proposer will also receive an email confirmation from the COUNTY’s e-Procurement Portal.

Telephone confirmation of timely receipt of any submittal should be made by calling (407) 665-

7116, before the 2:00 pm deadline.

The Proposer is required to submit ONE (1) ELECTRONIC FORMATTED file of their complete written submittal.

Proposers may withdraw their submittal electronically via the COUNTY’S e-Procurement Portal at any time prior to the scheduled due date and time for submission.

3.6. Inquiries

All Proposers should carefully examine the RFP documents. Any ambiguities or inconsistencies shall be brought to the attention of PCD Contact Person in writing via the Q&A tab in the

COUNTY’S e-Procurement Portal prior to the scheduled due date and time for submission.

Failure to do so, on the part of the Proposer, shall constitute an acceptance by the Proposer of any subsequent decision made by the COUNTY. Any questions concerning the intent, meaning and interpretations of the RFP documents including the attached Draft Agreement, shall be requested in writing, and received no later than 5:00 pm on Monday, April 7, 2025. Written requests shall be submitted via the COUNTY’S e-Procurement Portal The COUNTY will not be responsible for oral instructions made by employees of the COUNTY or its authorized representatives in regard to this RFP. If the Q&A deadline has passed, a Proposer may contact the COUNTY directly if necessary at pcdadmin@seminolecountyfl.gov. The COUNTY reserves the right to reject any questions sent after the Q&A deadline.

3.7. Addenda

Should revisions to the RFP documents become necessary, the COUNTY will post Addenda information on the COUNTY's e-Procurement Portal. The COUNTY’s e-Procurement Portal will issue an automated email notification to all “Followers” on the RFP’s Followers list. All

Proposers should check the COUNTY's Website or notify PCD ADMIN to verify information regarding Addenda. Failure to do so may result in rejection of the Proposer’s submitted proposal and a determination as “Non-Responsive”. By execution of the Formal Notice for this RFP, the

Proposer acknowledges receipt of all Addenda issued under this solicitation. Addenda information will be posted on the COUNTY’s Website

(https://secure.procurenow.com/portal/seminolefl). It is the sole responsibility of the Proposer to ensure that they obtain information related to any Addenda.

3.8. Selection Process and Award

Proposals will be reviewed by the COUNTY Evaluation Committee in accordance with the evaluation criteria set forth in the RFP documents. The COUNTY reserves the right to conduct interviews and require presentations of any or all Proposers prior to selection. The COUNTY will not be liable for any costs incurred by the Proposer in connection with such presentations.

Should oral presentations for this RFP be required by the COUNTY, the evaluation criteria and weights shall be used to short-list the Proposers. The County will award a contract based on the proposal that best meets the County's requirements. The Proposer understands that this RFP does not constitute an agreement or a contract with the Proposer. The COUNTY reserves the right to reject all bids/proposals, make multiple awards (award to more than one vendor), make a partial award, to waive formalities, to re-solicit and advertise for new bids/proposals, or to cancel the project in its entirety.

3.9. Proposal Preparation Costs

Neither the COUNTY nor its representatives shall be liable for any expenses incurred in connection with preparation of a response to this RFP. Proposers should prepare their proposals simply and economically, providing a straightforward and concise description of the

Proposer's ability to meet the requirements of this RFP.

3.10. Accuracy of Proposal Information

By submission of a proposal, Proposer acknowledges that they have carefully examined the

Request for Proposal documents and agrees to furnish the services specified in the solicitation at the prices, rates or discounts as proposed. Proposers agree that their proposal will remain firm for a period of up to one hundred twenty (120) days in order to allow the County adequate time to evaluate the submittals.

By submission of a proposal, Proposer agrees to abide by all conditions of this proposal and understands that a background investigation may be conducted by the Seminole County

Sheriff’s Department prior to award. Proposer certifies that all information contained in their proposal is truthful to the best of their knowledge and belief. Proposer further certifies that they are duly authorized to submit this proposal on behalf of the vendor/Proposer as its act and deed and that the vendor/Proposer is ready, willing and able to perform if selected.

3.11. Insurance

A misstatement or omission of a material fact, whether intentional or not, regarding the

Proposer's insurance coverage, policies or capabilities may be grounds for rejection of the

Proposer’s submitted proposal and rescission of any ensuing Award Agreement.

The COUNTY recommends that all Proposers review the insurance requirements listed within the Draft Agreement with their insurance carriers. A copy of the insurance certificate shall be furnished to the COUNTY prior to the final execution of the COUNTY’s

Award Agreement. The COUNTY reserves the right to reject the award to any Proposer that fails to provide the insurance as required within the COUNTY’s Award Agreement.

3.12. Licenses

Proposers, both corporate and individual, must be fully licensed and certified for the type of work to be performed in the State of Florida at the time of submittal under this RFP. Failure of the Proposer to be fully licensed and certified, may result in rejection of the Proposer’s submitted proposal and a determination as “Non-Responsive”. Any permits, licenses, or fees required shall be the responsibility of the Proposer. No separate or additional payment will be made for these costs. Adherence to all applicable code regulations, Federal, State, County, City, etc., is the responsibility of the Proposer.

3.13. Posting of the RFP’s Recommendation and Intent to Award

The recommendation and intent to award for this RFP will be posted on the COUNTY’s Website

(https://secure.procurenow.com/portal/seminolefl). Failure to file a protest with the COUNTY’s

Purchasing & Contracts Manager within the time prescribed in the COUNTY's Purchasing Code, Policies and Procedures shall constitute a waiver of proceedings.

3.14. Public Records

Upon recommendation and intent to award this RFP as posted to the COUNTY’s website or thirty (30) calendar days after closing, proposals are considered “public records" and shall be subject to the public disclosure regulations consistent with Chapter 119, Florida Statutes.

Proposers must invoke the exemptions to disclosure provided by law in their response to the solicitation and must identify the data or other materials to be protected by uploading any information deemed confidential separately under “Confidential Files,” and must state the reasons why such exclusion from public disclosure is necessary pursuant to the COUNTY’s, “Compliance With Public Records Law” Form, which is required as part of the RFP documents.

Ownership of all data, material, and documentation originated and prepared for the County pursuant to the RFP shall belong exclusively to the County and be subject to public inspection in accordance with the Public Records Law. Trade secrets or proprietary information submitted by a Proposer shall not be subject to public disclosure under the Public Records Law; however, the

Proposer must invoke the protection of this section prior to or upon submission of the data or other materials, and must identify the data or other materials to be protected and state the reasons why protection is necessary.

3.15. Prohibition Against Contingent Fees

It shall be unethical for any person to be retained, or to retain any company or person, other than a bonafide employee working solely for the Proposer to solicit or secure the Award

Agreement for this RFP, and that it has not paid or agreed to pay any person, company, corporation, individual or firm, other than a bonafide employee working solely for the Proposer, any fee, commission, percentage, gift, or other consideration contingent upon or resulting from award or making of this Award Agreement. For the breach or violation of this provision, the

COUNTY shall have the right to terminate the Award Agreement at its sole discretion, without liability and to deduct from the Award Agreement price, or otherwise recover, the full amount of such fee, commission, percentage, gift, or consideration.

3.16. Rejection/Disqualification

The COUNTY reserves the right to reject the proposal of any Proposer who has failed to perform, in a timely manner, the scope of services of a previously awarded agreement. The

COUNTY reserves the right to inspect all facilities of Proposers in order to make a determination as to the available resources to perform properly under this award. The COUNTY reserves the right to waive any irregularities, informalities, and technicalities and may, at its discretion, issue a re-procurement. More than one (1) proposal from an individual, firm, partnership, corporation, or association under the same or different names will not be considered. Reasonable grounds for believing that a Proposer is involved in more than one proposal submittal will be cause for rejection of all proposals in which such Proposers are believed to be involved. Any or all proposals will be rejected if there is reason to believe that collusion exists between Proposers.

Proposals in which the prices obviously are unbalanced will be subject to rejection.

3.17. Purchasing Code

Seminole County Code Chapter 220 (Purchasing Code), Administrative Code Section 3.55

(Purchasing Policy), and County Manager Policies apply to this RFP in their entirety.

3.18. Affirmation

By submission of a proposal, the Proposer affirms that their proposal is made without prior understanding, agreement or connection with any corporation, firm, or person submitting a proposal for the same materials, supplies, equipment or services, and is in all respects fair and without collusion or fraud. The Proposer agrees to abide by all conditions of this RFP and the resulting Award Agreement as prepared by Seminole County.

3.19. Governmental Restrictions

In the event that any governmental restrictions are imposed which would necessitate alteration of the material quality, workmanship or performance of the items offered on this proposal prior to their delivery, it shall be the responsibility of the Proposer to notify the Purchasing and

Contracts Division at once, indicating in his/her letter the specific regulation which required an alteration, including any price adjustments occasioned thereby. The County reserves the right to accept such alteration or to cancel the contract or order at no further expense to the County.

3.20. Advertising

In submitting a proposal, Proposer agrees not to use the results therefrom as a part of any commercial advertising, without the express written approval of the County Manager’s Office.

3.21. Patents and Royalties

Unless otherwise provided, the Proposer shall be solely responsible for obtaining the right to use any patented or copyrighted materials in the performance of the contract resulting from this

PS. The Proposer, without exception, shall indemnify and save harmless the County and its employees from liability of any nature or kind, including cost and expenses for or on account of any copyrighted, patented, or unpatented invention, process, or article manufactured or supplied by the Proposer. In the event of any claim against the County of copyright or patent infringement, the County shall promptly provide written notification to the Proposer. If such a claim is made, the Consultant shall use its best efforts to promptly purchase for the County the legitimate version of any infringing products or services or procure a license from the patent or copyright holder at no cost to County that will allow continued use of the service or product. If none of the alternatives are reasonably available, the County agrees to return the article on request to the Proposer and receive reimbursement, if any, as may be determined by a court of competent jurisdiction.

3.22. Drug-Free Workplace Compliance

Proposer shall comply with Section 287.087, Florida Statutes, and failure to comply shall result in rejection/disqualification of the proposal and all agreements as a result of this solicitation.

3.23. Public Entity Crime

Any Person or affiliate, as defined in Section 287.133, Florida Statutes, shall not be allowed to contract with the COUNTY, nor be allowed to enter into a subcontract for Work on this Project, if such a person or affiliate has been convicted of a public entity crime within three (3) years from the date this Project was advertised for Proposal, or if such person or affiliate was listed on the

State's convicted vendor list, within three (3) years of the date this Project was advertised, whichever time period is greater. A public entity crime means a violation of any state or federal law with respect to and directly related to the transaction of business with any public entity or agency (federal, state or local), including but not limited to, any contract for the construction or repair of a public building or public work involving antitrust, fraud, theft, bribery, collusion, racketeering, conspiracy, forgery, falsification of records, receiving stolen property or material misrepresentation. Any Agreement with the COUNTY obtained in violation of this Section shall be subject to termination for cause. A sub-contractor who obtains a subcontract in violation of this Section shall be removed from the Project and promptly replaced by a sub-contractor acceptable to the COUNTY.

3.24. Proprietary/Restrictive Specifications

Proposers who feel the specifications contained herein are proprietary or restrictive in nature, thus potentially resulting in reduced competition, must notify the Purchasing and Contracts

Division of their rejection upon receipt of this Request for Proposals and prior to the due date.

3.25. Payment Terms/Discounts

The County’s payment terms are in accordance with Section 218, Part VII, Florida Statutes, Florida Prompt Payment Act. Cash discounts for prompt payment shall not be considered in determining the lowest net cost for evaluation purposes.

3.26. Additional Terms and Conditions

Unless expressly accepted by the County, only the terms and conditions in this document and

Award Agreement shall apply. Any and all additional terms and conditions shall have no force and effect, and are inapplicable to this proposal if submitted either purposely through intent or design, or inadvertently appearing separately in transmittal letters, specifications, literature, price lists or warranties. It is understood and agreed that the general and/or special conditions in these RFP documents and any Addenda issued under this solicitation are the only conditions applicable to this proposal and the Proposer's authorized signature on the Proposal Response

Form attests to this.

3.27. Price Redeterminations

1. During the Renewal Term: Petitions for price redeterminations must be made at the time of

County’s notification to the Contractor of the renewal period. Any such petition must be made pursuant to the provisions of this Section and only for those price redetermination categories specified herein. Unless otherwise expressly set forth in this document, no other price redeterminations will be allowed. All price redeterminations will be approved by a duly executed amendment to the Contract to reflect the new prices for the renewal term.

2. Outside the Renewal Term: Petitions for price redeterminations must be made within thirty

(30) days of the anniversary date of the Contract. Any such petition must be made pursuant to the provisions of this Section and only for those price redetermination categories specified herein. Unless otherwise expressly set forth in this document, no other price redeterminations will be allowed. All price redeterminations will be approved by a duly executed amendment to the Contract.

BASIS FOR PRICE REDETERMINATIONS. The Contractor may petition the Purchasing and

Contracts Division for price redetermination based on the increased costs of wages, fuel, or materials. Price redeterminations will be based solely upon changes in pricing or costs documented by either the Employment Cost Index (ECI) or Producer Price Index (PPI), whichever is applicable, as published by the Bureau of Labor Statistics. The base index number for the ECI will be for the quarter in which the solicitation opens. The base index number for the

PPI will be for the month the solicitation opens. Any subsequent price redeterminations will use the last price redetermination approved for that price redetermination category as the "base index number." The County shall have the right to audit the Contractor's records, including, but not limited to, payroll, materials, and fuel cost records, to verify or otherwise investigate the validity of any price redetermination request.

WAGE PRICE REDETERMINATION. When requesting a price redetermination based upon an increase in wage costs, the Contractor shall refer to and utilize the Pay & Benefits, Employment

Cost Index, Private Industry, Compensation as prepared by the Bureau of Labor Statistics in the

U.S. Department of Labor available at www.bls.gov.

MINIMUM WAGE PRICE REDETERMINATION. If the minimum wage increases during the term of the Contract, including any renewal or extension period thereunder, the Contractor may petition the Purchasing and Contracts Division for price redetermination for those job categories where the pay to the Contractor's employee(s) is the current minimum wage. Upon verification of the information provided, the County will grant an increase of exactly the amount of the minimum wage increase (not the percentage increase). The Contractor must increase the pay to the employee(s) by the amount the Contractor has requested, which shall not exceed the amount of the minimum wage increase. The amount paid to the Contractor will be the increase plus any written and documented increase in FICA, Medicare, and Workers' Compensation insurance. The Contractor must supply written documentation of any other increase that is beyond the scope and control of the Contractor. All written documentation must satisfy the reasonable expectations of the Purchasing and Contracts Division.

• Example: Minimum wage increases from $7.31 to $7.56 per hour. The Contractor may petition for an increase of $0.25 per hour to be paid to the affected employee(s) and shall provide written and documented cost increases for FICA, Medicare and Workers' Compensation. The resulting increase in costs shall be incorporated into fees/rates billed to the County.

If the Contractor bills the County at a higher price according to any price redetermination granted by the County, and the Contractor fails to increase the hourly rate paid to the employee for the same period, the Contractor will be considered in Contract default and the Contract will be immediately terminated.

FUEL PRICE REDETERMINATION. If and when the price of fuel increases by a minimum of ten

(10%) percent, the Contractor may petition the Purchasing and Contracts Division for a fuel price redetermination. As a condition of petitioning for a fuel price increase, the Contractor shall be required to petition for a fuel price redetermination decrease if and when the price of fuel decreases by a minimum often (10%) percent. Failure to make such petition may be grounds for

Contract termination and shall entitle the County to a refund of the cumulative increase in pay to the Contractor due to any prior fuel price redetermination increase(s). Fuel price redetermination must be based solely upon changes as documented by the Producer Price Index (PPI) for the commodity "Gasoline - WPU057".

MATERIALS PRICE REDETERMINATION. At the anniversary date of the Agreement, the

Contractor may petition the Purchasing and Contracts Division for a materials price redetermination. As a condition of petitioning for a materials price increase, the Contractor shall be required to petition for a materials price redetermination decrease if/when the price of materials used by the Contractor in connection with the Contract decreases. Failure to make such petition may be grounds for Contract termination and shall entitle the County to a refund of the cumulative increase in pay to the Contractor due to any prior materials price redetermination increase(s). Materials price redetermination must be based solely upon changes as documented by the Producer Price Index (PPI) under Inflation & Prices, Industry Data, Construction Machinery Mfg. PCU 333120333120, as published by the Bureau of Labor

Statistics.

PRICE REDETERMINATION CALCULATION. All Price Redeterminations shall be calculated as follows:

Example: Contractor indicated on the Submittal Form that fourteen percent (14%) of the cost to provide the product/service is directly attributed to the redetermination category (wages, fuel, or materials).

PPI in the month the solicitation closed was 158.73 264.52

Current PPI is 264.52 -158.73

=105.79

105.79 divided by 158.73 = .666%

The unit cost of the service is $100.00

14% of $100.00 = $14.00

$14.00 x .666 = $9.32

The New Unit Price for the service is $109.32 ($100.00 + $9.32)

3.28. Expiration Upon Failure to Agree to Price Redetermination

If the County and the Contractor cannot agree to a price redetermination pursuant to the terms and conditions of this Section, then the Contract will automatically expire without penalty or further expense to either party after a period of six (6) months following the Contractor's initial request for such price redetermination.

Requests for price redeterminations not made in accordance with the provisions of this Section shall be deemed null and void and shall not be a valid reason or pretext for expiration or termination of the Contract. If the contract expires pursuant to the terms and conditions of this

Section, the County reserves the right, at no expense, penalty, or consequence to the County, to award any remaining tasks thereunder to the next available most responsive and responsible

Contractor.

3.29. Quantities

Seminole County will not be held to any maximum or minimum purchase quantities as a result of this solicitation and/or resulting contract. Seminole County reserves the right to purchase any;

all, or none, of its requirements from vendors awarded a contract as a result of this solicitation.

All quantities as shown are approximate and no guarantee is made. Except as this contract may otherwise provide, if the County’s requirements do not result in orders in the quantities described as “estimated” in the contract’s price schedule, that fact shall not constitute the basis for an equitable adjustment.

3.30. Purchasing Agreements with Other Government Agencies

All Applicants submitting a response to this solicitation agree that such response also constitutes a submittal to all governmental agencies within the State of Florida, under the same conditions, for the same contract price, and for the same effective period as this proposal, should the Applicant feels it is in their best interest to do so. Each governmental agency desiring to accept these submittals, and make an award thereof, shall do so independently of any other governmental agency. Each agency shall be responsible for its own purchases and each shall be liable only for materials and/or services ordered and received by it, and no agency assumes any liability by virtue of this solicitation. This agreement in no way restricts or interferes with the right of any governmental agency to re-solicit any or all items.

4. Instructions for the preparation of Submittals

The Proposer is expected to completely analyze the information contained in this Request for

Proposals (RFP) as guidance for the preparation of their written proposal. The Proposer’s written proposal should be specific, detailed, and complete in order to clearly and fully demonstrate the Proposer’s understanding of the proposed work requirements, and it should include a logical plan to accomplish the task(s) under the proposed scope of work.

The Proposer(s) warrants its response to this Request for Proposals to be fully disclosed and correct. The firm must submit a proposal complying with this request for proposals, and the information, documents and material submitted in the proposal must be complete and accurate in all material aspects. The proposals shall include all of the information solicited in this RFP and any additional data that the Proposer deems pertinent to the understanding and evaluation of the proposal. Proposals must be organized and sections tabbed in the order noted below.

The Proposer shall not withhold any information from the written response in anticipation of presenting the information orally or in a demonstration since oral presentations or demonstrations are at the option of the County. Marketing materials shall not be included as documentation of Proposer’s ability to provide services required. Compliance with all requirements will be solely the responsibility of the Proposer and failure to provide requested information may result in disqualification of response.

4.1. Type of Business*

☐ Corporation

☐ Joint Venture

☐ Partnership

☐ Proprietorship

*Response required

4.2. Type in your Legal Entity Name Here.*

This name will be verified against the Secretary of State website.

*Response required

4.3. Federal Employer ID Number (FEIN)*

*Response required

4.4. Incorporated in the State of ________.*

Ex.) Florida

*Response required

4.5. List of Principals*

*Response required

4.6. Upload evidence of authority to do business in the State of Florida.* Acceptable form of evidence includes Secretary of State download, or Certificate of Status. This must be sunbiz.org certificate.

*Response required

4.7. Proposal Content*

WARNING: DO NOT UPLOAD CONFIDENTIAL INFORMATION HERE.

A. Letter of Transmittal: This letter will summarize in a brief and concise manner, the

Proposer's understanding of the scope of work and make a positive commitment to perform the work in a timely manner. The letter should name all of the persons authorized to make representations for the Proposer, including the titles, addresses and telephone numbers of such persons. An authorized agent of the Proposer must sign the

Letter of Transmittal indicating the agent’s title or authority. This letter should also serve as acknowledgement by the Proposer that the contents of the submittal are true and accurate, and that the requirements of this RFP can be met, including but not limited to, insurance, bonding and licensing requirements. Further, the Proposer acknowledges their intent to execute an Agreement with the COUNTY.

B. STATEMENT OF QUALIFICATIONS/PERSONNEL: Each proposal shall include a statement of the contractor’s qualifications that includes:

1. A description of the contractor’s experience with similar work, including references for at least three (3) existing or past clientele. Use “Similar Project Experience” form.

The County intends to conduct reference checks of those clients. These checks will be designed to validate the company’s performance, ascertain the difference (if any) between expectations and delivery, and determine overall satisfaction with the company’s services.

C. PROJECT UNDERSTANDING AND APPROACH: Each proposal shall include a statement detailing the contractor’s understanding of, and planned approach to, the services contemplated in the Scope of Services section of this document. This statement shall include the following:

1. A description of contractor’s understanding of the Scope of Services and how contractor will approach work.

D. PRICE PROPOSAL: Proposer must submit costs inclusive of all direct and indirect components, services, insurance, coordination and incidentals necessary for the performance of the services.

1. When the Price Proposal Form(s) is included as part of the solicitation documents, Proposals must be submitted only upon the forms provided, with all items properly filled out in non-erasable permanent ink and must be properly signed and dated. The

Proposal Form(s) will be rejected if it shows any omissions, alterations of form of any kind.

*Response required

4.8. License Sanctions*

Regulatory/license agency sanctions within the past 5 years.

(If Proposer prefers to upload a file, upload in next question and enter "see file upload" in this field)

*Response required

4.9. License Sanctions

Regulatory/license agency sanctions within the past 5 years.

4.10. Conflict of Interest Statement*

I certify that I am an authorized representative (the Affiant) of my company (the Entity submitting this response) to sign and submit this statement on my company's behalf.

My company is submitting an Expression of Interest for the Seminole County project described as Fiduciary Services for Deferred Compensation Consulting Services.

The Affiant has made diligent inquiry and provides the information contained in this Affidavit based upon his/her own knowledge.

The Affiant states that only one submittal for the above project is being submitted and that the above-named entity has no financial interest in any other entities submitting proposals for the same project.

Neither the Affiant nor the above named entity has directly or indirectly entered into any agreement, participated in any collusion, or otherwise taken any action in restraint of free competitive pricing in connection with the entity's submittal for the above project. This statement restricts the discussion of pricing data until the completion of negotiations and execution of the

Agreement for this project.

Neither the entity nor its affiliates, nor anyone associated with them, is presently suspended or otherwise ineligible from participating in contract lettings by any local, state, or federal agency.

Neither the entity, nor its affiliates, nor anyone associated with them have any potential conflict of interest due to any other clients, contracts, or property interests for this project.

The Affiant certifies that no member of the entity's ownership, management, or staff has a vested interest in any aspect of or Department of Seminole County.

The Affiant certifies that no member of the entity's ownership or management is presently applying for an employee position or actively seeking an elected position with Seminole County.

The Affiant certifies that no member of the entity’s ownership or management is currently serving as a member of any Seminole County advisory board(s) or committee(s), or alternatively, state the individual(s) name(s), who is a member of the above-named entity’s ownership or management, and is currently serving as a member, and on which Seminole

County advisory board(s) or committee(s) they are currently serving as a member, in the following question.

☐ Please confirm

4.11. Conflict of Interest Statement Cont...*

A. Enter the name(s) of the individual(s) who is serving on a Seminole County advisory board(s) or committee(s).

B. Enter the Seminole County advisory board(s) or committee(s) that the individual(s) is serving as a member.

• If this is not applicable, type "N/A."

*Response required

4.12. Compliance with the Public Records Law*

Seminole County shall comply with the Public Records Law as provided by Chapter 119, Florida

Statutes, and all applicable amendments. Applicants must invoke the exemptions to disclosure provided by law in the response to the solicitation and must identify the data or other materials to be protected separately, and must state the reasons why such exclusion from public disclosure is necessary. The submission of a response authorizes release of your firm’s credit data to Seminole County.

If the company submits information exempt from public disclosure, the company must identify why the information is exempt from the Public Records Act, identifying the specific exemption section that applies to each. The protected information must be submitted to the County separately in the "Confidential Files" section if the information qualifies as “EXEMPT FROM

PUBLIC RECORDS LAW”. Failure to identify protected material separately will cause the

County to release this information in accordance with the Public records Law despite any markings on individual pages of your submittal/proposal.

A. CONTRACTOR acknowledges COUNTY’s obligations under Article 1, Section 24, Florida Constitution and Chapter 119, Florida Statues, to release public records to members of the public upon request. CONTRACTOR acknowledges that COUNTY is required to comply with Article 1, Section 24, Florida Constitution and Chapter 119, Florida Statutes, in the handling of the materials created under this…