FRTIB1-24-RFI-0001_ DC Benchmarking_11.21.2023.pdf

FRTIB1-24-RFI-0001

CUI//SP-PROCURE

A.04 v2.00 2020.02.05

Request for Information

Defined Contribution Plan Benchmarking Tool

I. Federal Retirement Thrift Investment Board Agency (FRTIB) Background

Information

The FRTIB is an independent Federal agency in the Executive Branch created by the Federal

Employees' Retirement System Act of 1986. The TSP is a retirement savings and investment plan for Federal civilian employees and members of the uniformed services that offers its participants the same type of savings and tax benefits that many private corporations offer their employees under I.R.C. §401(k) plans. The mission of the FRTIB is to administer the

TSP solely in the interest of participants and beneficiaries.

The Federal Acquisition Regulations (FAR) informs the Agency's procurement activities;

however, as a non-appropriated fund Agency, it is not bound by the FAR. The TSP is the largest participant-directed defined contribution plan in the world. The TSP's over 6.9 million participants can make tax-deferred and Roth contributions to the Plan. Currently, participants can invest their employee and employer contributions in five indexed funds and 10 lifecycle funds, with current assets worth over $760 billion. The TSP is available only to Federal employees of the civilian service and members of the uniformed services; vested participants may leave their funds in the TSP after they leave service.

II. Description

The purpose of this Request For Information (RFI) is to obtain information on a commercially available tool that will allow the FRTIB to benchmark the Thrift Savings

Plan (TSP) against other Defined Contribution (DC) plans.

This RFI is issued solely for information and planning purposes. It does not constitute a

Request for Proposal (RFP) or a promise to issue an RFP in the future. This request for information does not commit the FRTIB to a contract. Further, the FRTIB is not seeking proposals at this time and will not accept unsolicited proposals. Respondents are advised that the FRTIB will not pay for any information or administrative costs incurred in response to this RFI; all costs associated with responding to this RFI are solely at the interested party's expense. Not responding to this RFI does not preclude participation in any future RFP if one is issued. Any information that the respondent considers proprietary should be clearly marked as such. All submissions become Agency property and will not be returned. The work is for the continental U.S.

The FRTIB seeks a commercially available tool that will give on-demand information to the

FRTIB on how the TSP compares to other Defined Contribution Plans. The FRTIB seeks to compare, but not limited to, the following types of information:

Assets Under Management, Fees, Average account balance, Cash flow, Withdrawal and loan data, and asset allocation.

The FRTIB seeks the information to be in dashboard format and should also have summary level information. Information obtained from this RFI will allow the FRTIB to identify and assess the costs, risks, rewards, and other relevant factors associated with a commercially available tool that will allow the FRTIB to benchmark the TSP against other Defined

Contribution plans and will inform its decision on whether a mutual fund option is offered to

TSP participants.

Following a review of the responses received, FRTIB may elect to request additional information or schedule one-on-one meetings with some respondents to gain additional information about their proposed solution(s). Respondents will not be notified of the results of the review.

III. Questions

Respondent organizations are requested to provide the following general information and answer all listed questions. Please limit your response to a maximum of 20 pages. This maximum excludes cover and separator pages, and any exhibits.

The questions are as follows:

1. Does your company have a product that uses data directly from DC plans that can compare DC Plans? (Please note the FRTIB does not seek a tool that utilizes information directly from a 5500 report).

2. How do you obtain information for your tool?

3. Does your product have the ability to provide a dashboard that compares DC plans and can users drill down into data?

4. Does your product supplement the dashboard with a written report?

5. Does your product comparison distinguish between peer set (mega plans, small plans, etc.)?

6. If you have a product, what elements do you use to compare plans (AUM, loan data, asset allocation etc).

7. If you already have a product, is your dashboard customizable?

8. Does your product offer a participant satisfaction benchmark?

9. Does your company provide custom research and analysis as a complement to the benchmarking product?

IV. Responses/Submission:

Written responses are Due: NLT December 18, 2023, 12 noon ET.

Subject Line: FRTIB1-24-RFI-0001_DC-Benchmarking (TSP)

To: FRTIB Contracting Officer—lashondria.barber@frtib.gov and Contract Specialist charles.blair@frtib.gov.

From: Company Information

Company name, address, and telephone.

Name, title, mailing address, telephone number, fax number, and e-mail address of contact person for this RFI.

Company website(s)

Direct all questions to the POC’s email address above.