Retirement Consultant RFP 2026-RFP-001.doc

Request for Proposals Issued by:

The Washington State Board for

Community and Technical Colleges Request for Proposal Number

SBCTC 2026-RFP-001

For Retirement Consultant September 28, 2026 Table of Contents

Introduction

11.1 Background

11.2 Purpose

11.3 Contract Term

11.4 Definitions

21.5 Single Award

21.6 Overview of Solicitation Process

SCHEDULE

Administrative Requirements

43.1 RFP Coordinator (Proper Communication)

43.2 Vendor Questions

43.3 Vendor Comments Invited

43.4 Vendor Complaints Regarding Requirements and Specifications

53.5

(M) Response Contents

53.6 Number of Response Copies Required

53.7 Response Presentation and Format Requirements

53.8

(M) Delivery of Responses

63.9 Cost of Response Preparation

63.10 Response Property of SBCTC

63.11 Proprietary or Confidential Information

63.12 Waive Minor Administrative Irregularities

73.13 Errors in Response

73.14 Amendments/Addenda

73.15 Right to Cancel

73.16

(M) Contract Requirements

83.17

(M) Incorporation of Documents into Contract

83.18 Best and Final Offer

83.19 No Costs or Charges

83.20 Office of Minority and Women’s Business Enterprises

83.21 No Obligation to Contract/Buy

83.22 Non-Endorsement and Publicity

83.23 Withdrawal of Response

93.24 Optional Vendor Debriefing

93.25 Protest Procedures

93.26 Selection of Apparent Successful Vendor

93.27 Electronic Availability

VENDOR REQUIREMENTS

104.1

(M) Letter of Submittal (Executive Summary)

104.2

(M) Vendor Profile

104.3 Vendor Account Manager

114.4

(M) Vendor Licensed to do Business in Washington

114.5

(M) Use of Subcontractors

114.6

(M) Prior Contract Performance

124.7

(M) Insurance

Requirements

215.1 Experience and Licensure (MS)

225.2 Statement of Work Response (MS)

EVALUATION PROCESS

246.1 Overview

246.2 Administrative Screening

246.3 Mandatory Requirements

246.4 Qualitative Review and Scoring

256.5 Price Scoring

256.6 Allocation of Points

256.7 Vendor Total Score

256.8 Selection of Apparent Successful Vendor

Appendices Appendix A: Certifications and Assurances Appendix B: Proposed Contract Appendix C: OMWBE Participation Form [if applicable] Appendix D: Protest Procedures

SECTION 1

Introduction 1.1 Background State law provides authority for state public higher education institutions to sponsor retirement savings programs. With that statutory authority, the State Board sponsors four retirement savings plans that have combined assets of over $4.3 billion and over 22,000 participants. Below is information on the State Board’s role as a sponsor, the operation of the plans, and the role of the Plan Administrator.

State law provides the State Board with authority to sponsor retirement savings plans for employees of the community and technical college system. With that authority, the State Board sponsors an active and closed retirement plan for faculty, exempt administrative and professional employees; a voluntary retirement savings plan that is open to all employees and a supplemental retirement plan intended to ensure eligible participants receive at least a minimal benefit. To govern and operate these plans, the State Board has adopted and amended plan documents establishing the general policies governing each retirement plan, approved the available investment options and contracted with Teachers Insurance Annuity Association (TIAA) for recordkeeping and benefit administration services.

1.2 Purpose SBCTC is seeking proposals from qualified retirement plan consulting firms to provide independent consulting and fiduciary support services for our retirement plan(s).

The consultant will serve as a trusted advisor to the Retirement Plan/Investment Review Committee and assist in ensuring that the plan is administered in accordance with fiduciary best practices, applicable regulations, and the organization's objectives for participant retirement readiness.

1.3 Contract Term It is anticipated that the term of the resulting Contract will be for one year initial term with the option to implement four, one-year extensions (i.e. up to five years).

1.4 Definitions

“Apparent Successful Vendor” (ASV) shall mean the Vendor who: (1) meets all the requirements of this RFP, and (2) is selected for contract award based on the process and scoring criteria set forth in this RFP.

“Business Days” or “Business Hours” shall mean Monday through Friday, 8 AM to 5 PM, local time in Olympia, Washington, excluding Washington State holidays.

“Mandatory” or “(M)” shall mean the Vendor must comply with the requirement, the Vendor must provide an affirmative indication within its Response that the Vendor has read, understands, and intends to comply with the requirement, and the Response will be evaluated on a pass/fail basis.

“Mandatory Scored” or “(MS)” shall mean the Vendor must comply with the requirement, and the Response will be scored.

“Purchaser” shall mean the Washington State Board for Community & Technical Colleges.

“RCW” means the Revised Code of Washington.

“Response” shall mean the written proposal submitted by Vendor to SBCTC in accordance with this RFP. The Response shall include all written material submitted by Vendor as of the date set forth in the RFP schedule or as further requested by SBCTC.

“Services” shall mean those Services provided by Vendor relating to the solicitation, deployment, development and/or implementation activities that are appropriate to the scope of this solicitation.

“State” shall mean the state of Washington.

“Subcontractor” shall mean one not in the employment of Vendor, who is performing all or part of the Services under the resulting Contract under a separate contract with Vendor. The term “Subcontractor” means Subcontractor(s) of any tier.

“Vendor” shall mean a company, organization, or entity submitting a Response to this RFP.

1.5 Single Award One Apparent Successful Vendor (ASV) will be identified via this procurement. SBCTC intends to award one (1) Contract.

1.6 Overview of Solicitation Process The SBCTC will select an ASV based on the scoring criteria set forth in Section 6.

SECTION 2

SCHEDULE

RFP Schedule

This RFP is being issued under the following Schedule. The Response deadlines are mandatory and non-negotiable. Failure to meet any of the required deadlines will result in disqualification from participation. Unless otherwise indicated, all required deadlines are 4:00 p.m. All times are local time, Olympia, WA.

EVENT

DATE & TIME

Notification of Apparent Successful Vendor

Vendor requests for debriefing due (Optional) November 12, 2026 November 17, 2026

SBCTC reserves the right to revise the above schedule.

SECTION 3

Administrative Requirements

3.1 RFP Coordinator (Proper Communication) Upon release of this RFP, all Vendor communications concerning this solicitation must be directed to the RFP Coordinator listed below. With the exception of the Backup RFP Coordinator and the Office of Minority and Women’s Business Enterprises (OMWBE), unauthorized contact regarding this solicitation with other state employees involved with the solicitation may result in disqualification. All oral communications are unofficial and non-binding on the State. Vendors should rely only on written statements issued by the RFP Coordinator. The RFP Coordinator may also designate, in writing, a backup RFP Coordinator/Point of Contact.

RFP Coordinator

Abraham L. Rocha

Contracts & Procurement Officer

SBCTC

Telephone:

(509) 842-4341 E-mail: arocha@sbctc.edu

3.2 Vendor Questions Vendor questions regarding this RFP will be allowed until the date and time specified in the Schedule (Section 2). Vendor questions must be submitted in writing (e-mail acceptable) to the RFP Coordinator. An official written response will be provided for Vendor questions received by this deadline. To ensure that all prospective bidders have access to the information, written responses to Vendor questions will be posted on the WEBS site where the RFP is posted.

The Vendor that submitted the questions will not be identified. Verbal responses to questions will be considered unofficial and non-binding. Only written responses posted will be considered official and binding.

3.3 Vendor Comments Invited

Vendors are encouraged to review the mandatory requirements of this RFP carefully, and submit any comments and recommendations to the RFP Coordinator. Where mandatory requirements appear to prohibit or restrict your firm’s participation, an explanation of the issue with suggested alternative language should be submitted in writing to the RFP Coordinator by the deadline for Vendor Questions, Comments, and Complaints in the Schedule (Section 2).

3.4 Vendor Complaints Regarding Requirements and Specifications

Vendors are expected to raise any questions, exceptions, or additions they have concerning the RFP requirements early in the RFP process. Vendors may submit specific complaints to the RFP Coordinator, if Vendor believes the RFP unduly constrains competition or contains inadequate or improper criteria. The complaint must be made in writing to the RFP Coordinator before the Response due date set forth in the Schedule (Section 2). The solicitation process may continue.

These complaints are not handled through protest procedures outlined in Appendix D, Protest Procedures; however, the RFP Coordinator will review the substance of the complaint. Should a Vendor complaint identify a change that would be in the best interest of the State to make, SBCTC may modify this RFP accordingly. The SBCTC decision is final; no further administrative appeal is available.

3.5

(M) Response Contents The Response must contain information responding to all mandatory requirements in the RFP, contact information for client references (if requested), and must include the signature of an authorized Vendor representative on all documents required in the appendices.

3.6 Number of Response Copies Required 1 Electronic Copy of Response

Responses shall be submitted via email. Vendor assumes all responsibility for failure to provide a complete response to the RFP – the entire response must be delivered before the deadline – incomplete responses may be disqualified. Partial delivery of a response before the deadline does not satisfy the timeliness requirement.

3.7 Response Presentation and Format Requirements Not all of the following requirements are mandatory in responding to this RFP – HOWEVER, in order to assist in the scoring of responses and to receive the highest number of points for its Response, Vendors are encouraged to comply with the requirements as stated. Specific Mandatory items are indicated with an (M).

The signature block in Appendix A, Certifications and Assurances, must be signed by a representative authorized to bind the company to the offer (email Responses must include a properly signed Certifications and Assurances) Vendor must respond to each question/requirement contained in Sections 3 through 6 of this RFP. Failure to substantially comply with any applicable item may result in the Response being disqualified. Please answer each question that requires a response – it is very helpful to restate the text of a question or requirement so that you do not miss answering anything. Also, please remember to indicate which section, question or requirement of the RFP you are responding to with each response (including the section number is helpful).

(M) Each of the RFP requirements are numbered and titled. In each requirement title is a designation indicating how the Response will be evaluated:

For Mandatory requirements (M), the Response must always indicate explicitly whether or not the Vendor’s proposed Services meet the requirement. A statement, “(Vendor Name) has read, understands, and fully complies with this requirement” is acceptable, if true, along with any additional information requested. For some items, Vendor will need to show how the Mandatory requirement is met.

For Mandatory Scored (MS) items, the Response must always indicate explicitly whether or not the Vendor's proposed Products/Services meet the requirement, and describe how the proposed Vendor’s Products/Services will accomplish each requirement as it relates to the service(s) proposed.

Include Vendor name and the name, address, e-mail, and telephone numbers of the Vendor’s authorized representative at the beginning of each volume of the Response.

(M) The Response, as well as any reference materials presented by Vendor, must be written in English and Vendor must provide all rates in United States dollars.

3.8

(M) Delivery of Responses

It is mandatory that Vendors submit all copies of their Responses by the date and time in Section 2, Schedule, to the RFP Coordinator at the address specified in RFP Coordinator (Section 3.1).

Responses must be received at SBCTC by the date and time specified in Section 2, Schedule. Time is of the essence. Responses arriving after the deadline will be returned unopened to their senders. Responses sent by facsimile will not be accepted.

All Responses must be submitted via email; a complete response must be received by the date and time specified in Section 2 Schedule in order for the Vendor’s response to be deemed to have arrived in a timely manner. The timestamp assigned by the SBCTC email system will be the official time a response is received. Please note that an email submission may encounter delivery problems as materials, attachments, or the email itself may not pass through the SBCTC firewall. In that case, it is the Vendor’s responsibility to ensure that SBCTC has received all materials. Vendors assume all responsibility for the method of delivery and for any delay in the delivery of their Response. Vendors are encouraged to send electronic responses well in advance of the deadline and to confirm that a complete response was received by SBCTC prior to the deadline.

3.9 Cost of Response Preparation

SBCTC will not reimburse Vendors for any costs associated with preparing or presenting a Response to this RFP.

3.10 Response Property of SBCTC All materials submitted in response to this solicitation become the property of SBCTC, unless received after the deadline in which case the Response is returned to the sender.

3.11 Proprietary or Confidential Information

To the greatest extent practicable, please refrain from including any information you wish to keep from public disclosure out of your response. Any information contained in the Response that is proprietary or confidential must be clearly designated. Marking of the entire Response or entire sections of the Response as proprietary or confidential will not be accepted nor honored; in those cases, SBCTC will treat the response as if none of it was marked as proprietary or confidential. SBCTC will not honor proprietary or confidential designations or markings on pricing.

To the extent consistent with chapter 42.56 RCW, the Public Disclosure Act, SBCTC shall maintain the confidentiality of Vendor’s information marked confidential or proprietary, HOWEVER, such designation does not necessarily protect it from public records requests. If a request is made to view Vendor’s proprietary information, SBCTC will notify Vendor of the request and of the date that the records will be released to the requester unless Vendor obtains a court order enjoining that disclosure. If Vendor fails to obtain the court order enjoining disclosure, SBCTC will release the requested information on the date specified.

The State’s sole responsibility shall be limited to maintaining the above data in a secure area and to notify Vendor of any request(s) for disclosure for so long as SBCTC retains Vendor’s information in our records. Failure to so label such materials or failure to timely respond after notice of request for public disclosure has been given shall be deemed a waiver by Vendor of any claim that such materials are exempt from disclosure.

3.12 Waive Minor Administrative Irregularities

SBCTC reserves the right to waive minor administrative irregularities contained in any Response. Additionally, SBCTC reserves the right, at its sole option, to make corrections to Vendors’ Responses when an obvious arithmetical error has been made in the price quotation. Vendors will not be allowed to make changes to their quoted price after the Response submission deadline.

3.13 Errors in Response

Vendors are liable for all errors or omissions contained in their Responses. Vendors will not be allowed to alter Response documents after the deadline for Response submission. SBCTC is not liable for any errors in Responses. SBCTC reserves the right to contact Vendor for clarification of Response contents.

In those cases where it is unclear to what extent a requirement or price has been addressed, the evaluation team may, at their discretion and acting through the RFP Coordinator, contact a Vendor to clarify specific points in the submitted Response. However, under no circumstances will the responding Vendor be allowed to make changes to the proposed items after the deadline stated for receipt of Responses.

3.14 Amendments/Addenda

SBCTC reserves the right to change the Schedule or other portions of this RFP at any time. SBCTC may correct errors in the solicitation document identified by SBCTC or a Vendor. Any changes or corrections will be by one or more written amendment(s), dated, and attached to or incorporated in and made a part of this solicitation document. All changes must be authorized and issued in writing by the RFP Coordinator. If there is any conflict between amendments, or between an amendment and the RFP, whichever document was issued last in time shall be controlling. In the event that it is necessary to revise or correct any portion of the RFP, a notice will be posted on the WEBS procurement web site and emailed to the designated contact for each Vendor.

3.15 Right to Cancel

With respect to all or part of this RFP, SBCTC reserves the right to cancel or reissue at any time without obligation or liability.

3.16

(M) Contract Requirements

A proposed Contract has been included as Appendix B.

To be responsive, Vendors must indicate a willingness to enter into a Contract substantially the same as the Contract in Appendix B, by signing the Certifications and Assurances located in Appendix A. Any specific areas of dispute with the attached terms and conditions must be identified in the Response and may, at the sole discretion of SBCTC, be grounds for disqualification from further consideration in the award of a Contract.

Under no circumstances is a Vendor to submit their own standard contract terms and conditions as a response to this solicitation. Instead, Vendor must review and identify the language in Appendix B that Vendor finds problematic, state the issue, and propose the language or contract modification Vendor is requesting. All of Vendor’s exceptions to the contract terms and conditions in Appendix B must be submitted within the Response, attached to Appendix A, Certification and Assurances. Please note that the Certifications and Assurances Form (Exhibit A) must be signed and dated in ink by a person legally authorized to bind the Vendor to a contractual relationship. SBCTC will not accept changes to the Certifications and Assurances Form. SBCTC expects the final Contract signed by the ASV to be substantially the same as the contract located in Appendix B.

The foregoing should not be interpreted to prohibit either party from proposing additional contract terms and conditions during negotiation of the final Contract.

The ASV will be expected to execute the Contract within seven (7) Business Days of its receipt of the final Contract. If the selected Vendor fails to sign the Contract within the allotted seven (7) days time frame, SBCTC may elect to cancel the award, and award the Contract to the next ranked Vendor, or cancel or reissue this solicitation (see Subsection 3.15, Right to Cancel). Vendor’s submission of a Response to this solicitation constitutes acceptance of these contract requirements.

3.17

(M) Incorporation of Documents into Contract

This solicitation document and the Response will be incorporated into any resulting Contract.

3.18 Best and Final Offer

SBCTC reserves the right to make an award without further discussion of the Response submitted; i.e., there may not be a best and final offer request. Therefore, the Response should be submitted on the most favorable terms that Vendor intends to offer.

3.19 No Costs or Charges

No costs or charges under the proposed Contract may be incurred before the Contract is fully executed.

3.20 Office of Minority and Women’s Business Enterprises

SBCTC strongly encourages participation of minority and women businesses. Vendors who are OMWBE certified or intend on using OMWBE certified Subcontractors are encouraged to identify the participating firm on Appendix C. No minimum level of OMWBE participation is required as a condition of receiving an award and no preference will be included in the evaluation of Responses in accordance with chapter 39 RCW. For questions regarding the above, contact OMWBE at (360) 753-9693.

3.21 No Obligation to Contract/Buy

SBCTC reserves the right to refrain from Contracting with any and all Vendors. Neither the release of this solicitation document nor the execution of a resulting Contract obligates SBCTC or any other authorized purchasers to make any purchases.

3.22 Non-Endorsement and Publicity

In selecting a Vendor to supply Services to the state of Washington, the State is neither endorsing Vendor’s Services, nor suggesting that they are the best or only solution to the State’s needs. By submitting a Response, Vendor agrees to make no reference to SBCTC or the state of Washington in any literature, promotional material, brochures, sales presentation or the like, regardless of method of distribution, without the prior review and express written consent of SBCTC.

3.23 Withdrawal of Response

Vendors may withdraw a Response that has been submitted at any time up to the Response due date and time (identified on the Schedule, Section 2). To accomplish response withdrawal, a written request signed by an authorized representative of Vendor must be submitted to the RFP Coordinator. After withdrawing a previously submitted Response, Vendor may submit another Response at any time up to the Response submission deadline.

3.24 Optional Vendor Debriefing

Only Vendors who submit a Response may request an optional debriefing conference to discuss the evaluation of their Response. The requested debriefing conference must occur on or before the date specified in the Schedule (Section 2). The request must be in writing (fax or e-mail acceptable) addressed to the RFP Coordinator.

The optional debriefing will not include any comparison between the Response and any other Responses submitted. However, SBCTC will discuss the factors considered in the evaluation of the Response and address questions and concerns about Vendor’s performance with regard to the solicitation requirements.

3.25 Protest Procedures

Vendors who have submitted a timely Response to this solicitation and have had a debriefing conference may make protests. Upon completion of the debriefing conference, a Vendor is allowed five (5) Business Days to file a formal protest of the solicitation with the RFP Coordinator. Further information regarding the grounds for, filing and resolution of protests is contained in Appendix D, Protest Procedures.

3.26 Selection of Apparent Successful Vendor

All Vendors responding to this solicitation will be notified by e-mail when SBCTC has determined the ASV. The ASV will be the respondent who: (1) meets all the requirements of this RFP; and (2) receives the highest number of total points as described in Section 6. The date of announcement of the ASV will be the date the e-mail is sent.

3.27 Electronic Availability

The contents of this RFP and any amendments/addenda and written answers to questions will be available on the WEBS site at https://fortress.wa.gov/ga/webs/.

If you need technical assistance please contact WEBS Customer Service via email at webscustomerservice@des.wa.gov or by phone at (360) 902-7400.

For more information: http://des.wa.gov/services/ContractingPurchasing/Business/Pages/default.aspx. This is a common vendor registration and bid notification system for all Washington State agencies and higher education institutions.

SECTION 4

VENDOR REQUIREMENTS

Respond to the following requirements per the instructions in section 3.

4.1

(M) Letter of Submittal (Executive Summary) Vendors must submit a signed Executive Summary. Cost information must not be included in the transmittal letter. The Executive Summary must be included as the first page of Part 1 of Volume 1. Signing the Executive Summary indicates that the Vendor accepts the terms and conditions of this RFP. Please note that the Letter of Submittal must be signed and dated by a person legally authorized to bind the Vendor to a contractual relationship.

Vendor’s Executive Summary must include the following information:

4.1.1 Vendor must provide the name, legal status (e.g., corporation, sole proprietor, etc.), Federal Tax I.D. number, Washington UBI number (Unified Business Identifier number), address, telephone number, and email address of the legal entity or individual with whom SBCTC may execute a contract arising from this RFP.

4.1.2 Contact representative’s name and contact information.

4.1.3 Identify the page numbers on the Response that are marked “Proprietary or Confidential” Information.

4.1.4 A statement substantiating that the person who signs the Executive Summary is authorized to contractually bind the Vendor’s organization.

4.1.5 The Vendor’s guarantee that its Response, as submitted, will remain in full force and effect for 120 days or 180 days if a protest to the RFP is filed, whichever is later.

4.1.6 Any statements you wish to convey to the RFP Coordinator.

4.2

(M) Vendor Profile

Vendor must provide the legal business name, legal status (e.g., corporation, sole proprietor, etc.) and the year the entity was organized to do business as the entity now substantially exists, Washington State Uniform Business Identification (UBI) number, the home office address, and telephone and fax numbers, web site URL (if any), and organizational chart of the legal entity with whom SBCTC may execute any Contract arising from this RFP, including the names and titles of Vendor’s principal officers. Also include the following:

a) Parent company, if applicable

b) Structure of the organization that performs services identified in this RFP and any other services that are directly related to the support of the services identified in this RFP;

c) The total number of years in business;

d) The number of years performing services identified in 4.2 b (above);

4.3 Vendor Account Manager Vendor shall appoint an Account Manager who will provide oversight of Vendor contract activities. Vendor’s Account Manager will be the principal point of contact concerning Vendor’s performance under this Contract. Vendor shall notify the SBCTC Contracts & Procurement Officer, in writing, when there is a new Vendor Account Manager assigned to this Contract. The Vendor Account Manager information is:

Vendor Account Manager:

Address:

4.4

(M) Vendor Licensed to do Business in Washington

Within thirty (30) days of being identified as the ASV, Vendor must be licensed to conduct business in Washington, including registering with the Washington State Department of Revenue. The Vendor must collect and report all applicable taxes.

4.5

(M) Use of Subcontractors

SBCTC will accept Responses that include third party involvement only if the Vendor submitting the Response agrees to take complete responsibility for all actions of such Subcontractors. Vendors must state whether Subcontractors are/are not being used, and if they are being used, Vendor must list them in response to this subsection. SBCTC reserves the right to approve or reject any and all Subcontractors that Vendor proposes. Any Subcontractors engaged after award of the Contract must be pre-approved, in writing, by SBCTC.

If Subcontracts will be used for the resultant Contract for this RFP, the Vendor must provide the following for each Subcontractor in addition to the requirements in Section 5:

· Subcontractor(s) name;

· Subcontractor Representative;

· Address;

· Phone number (office and mobile);

· E-mail; and

· Fax number

· OMWBE status.

Specific restrictions apply to contracting with current or former state employees pursuant to chapter 42.52 RCW. Vendors should familiarize themselves with the requirements prior to submitting a Response.

4.6

(M) Prior Contract Performance

Vendor must submit full details of all Terminations for Default for performance similar to the Services requested by this RFP experienced by the Vendor in the past five (5) years, including the other party’s name, address and telephone number.

“Termination for Default” is defined as notice to Vendor to stop performance due to the Vendor’s non-performance or poor performance and the issue was either: (a) not litigated; or (b) litigated and such litigation determined the Vendor to be in default.

Vendor must describe the deficiencies in performance, and describe whether and how the deficiencies were remedied. Vendor must present any other information pertinent to its position on the matter.

SBCTC will evaluate the information and may, at its sole discretion, reject the Response if the information indicates that completion of a Contract resulting from this RFP may be jeopardized by selection of the Vendor.

If the Vendor has experienced no such Terminations for Default in the past five years, so declare.

4.7

(M) Insurance

The ASV is required to obtain insurance to protect the State should there be any claims, suits, actions, costs, or damages or expenses arising from any negligent or intentional act or omission of the Vendor or its Subcontractor(s), or their agents, while performing work under the terms of any Contract resulting from this solicitation. Vendors will find a complete description of the specific insurance requirements in the proposed contract terms in Appendix B, Proposed Contract.

SECTION 5

5 Requirements Respond to the items listed below per the instructions in section 3. When responding to the requirements, please refer to the requirement number in your response so that we can match up your answers with the requirements that you attempt to associate the answers with.

Please respond by providing detailed narrative responses to each of the items.

5.1 Experience and Licensure (MS)

5.1.1 Describe your firm’s experience servicing retirement plan clients, including specific experience with not for profit clients.

Please also indicate the position of your firm in the employer-sponsored retirement plans business:

a. Percentage of revenue from retirement plan investment advisory services

b. Plan assets under advisement

c. Total number of clients with plans under your advisement (403(b)/401(k)/401(a) profit sharing/401(a) profit sharing or money purchase other than 401(k) plans, governmental 457, 457(b) and 457(f) plans.

d. Number of core client plans with whom your firm has regular quarterly contact

e. Number of client plans added over the past 24 months

f. Number of client plans lost over the past 24 months

g. Recognition received from independent sources demonstrating your firm’s expertise and credibility

5.1.2 Please indicate how many employees in your firm are Investment Advisory Representatives (IARs).

5.1.3 If you use subcontractors, please describe the services they provide, their experience, and whether they are also IARs.

5.1.4 List the types of services your firm offers, including what services you offer for retirement plans

5.1.5 Describe your firm’s experience helping clients through complex processes such as Department of Labor audits, Internal Revenue Service audits, voluntary compliance actions, partial plan termination determinations, plan mergers or spin-offs, and plan terminations or corrective contributions.

5.1.6 List the Federal, State, and other regulatory agencies with which your firm is licensed or registered, and the types of licenses held.

5.1.7 During current or prior employment, have any individuals from your firm ever been disciplined by any government regulator for unethical or improper conduct, or been sued by a client who was not happy with the work performed?

5.1.8 Has your firm or any advisor during current or prior employment with your firm, been found guilty of any violation or paid any fines because of violations of securities regulations or ERISA?

5.2 Statement of Work Response (MS) Please draft responses to the items below based on the information in the attached Statement of Work (Exhibit A).

5.2.1 (MS) Describe your service model for our plan (staff, responsibilities, interactions with out plan, frequency of in-person meetings, frequency of conference calls, etc.)

5.2.2 List Key Personnel who are proposed to work with SBCTC and their credentials

5.2.3 (MS) Describe your firm’s approach to plan investment consulting.

a.

What investment policy support do you offer?

b.

What tools does your firm use to evaluate funds and managers?

c.

Describe your investment research resources and capabilities.

d.

Describe the actions you take when investments are not performing.

5.2.4 (MS) Describe your firm’s approach to plan compliance and review a.

Operational compliance b.

IRS qualification requirements c.

Required plan amendments d.

SECURE Act and other legislative changes

5.2.5 (MS) Provider/Vendor Services:

a.

Describe your service provider benchmark service and process.

b.

Describe your experience with our current service provider.

c.

Describe your experience with higher education retirement plans.

5.2.6 (M) Fiduciary Status & Complianc a.

Describe the fiduciary standard your firm will accept in providing services to SBCTC and its retirement plans. Identify the federal and Washington laws, regulations, professional standards, and contractual obligations under which your firm will act as a fiduciary or investment adviser. Clearly distinguish between discretionary and non-discretionary investment advisory services. If your firm commonly serves as an ERISA §3(21) or §3(38) fiduciary, describe how those services or equivalent fiduciary standards would apply to SBCTC's governmental retirement plans.

b.

Explain any potential conflicts of interest that may arise in the advisory relationship and what your firm’s process is for handling those.

c.

Do you offer committee training, education, and support?

5.2.7 (MS) Technology Describe the technology and applications your firm proposes to use in providing services to SBCTC, excluding technology provided by SBCTC's current retirement plan recordkeeper. For each material application or platform:

a.

Describe its purpose and how it will be used to support SBCTC's retirement plans, including investment analysis, benchmarking, reporting, participant analytics, document management, or other services.

b.

Identify whether the technology is proprietary to your firm, internally developed, commercially licensed, or provided/hosted by a third party.

c.

Identify what SBCTC, plan, or participant data, if any, will be stored, transmitted, processed, or accessed through the technology.

d.

Describe any anticipated data integrations, data feeds, file transfers, APIs, or other interfaces with SBCTC or its retirement plan service providers.

e.

Describe the benefits the technology provides to SBCTC, the Retirement Plan/Investment Review Committee, and/or plan participants.

f.

Describe SBCTC's access to its information and reports and the process for returning or exporting SBCTC data upon termination of the contract.

5.2.8 (MS) Information Security, Privacy, and Business Continuity a.

Describe your firm's information security program and the administrative, technical, and physical safeguards used to protect confidential, personal, and retirement plan information.

b.

Identify the independent security standards, certifications, assessments, or audit reports maintained by your organization (e.g., SOC 2 Type II, ISO 27001, NIST-based security program, or equivalent). Indicate whether relevant reports or certifications can be provided to SBCTC upon request.

c.

Describe your firm's identity and access management controls, including multi-factor authentication, role-based access, privileged access, and encryption of data in transit and at rest.

d.

Describe any third parties, subcontractors, cloud providers, or other service providers that may store, process, transmit, or have access to SBCTC or participant data.

e.

SBCTC requires execution of its Data Sharing Agreement (DSA) when applicable. Describe your firm's experience complying with governmental or higher-education data sharing and security requirements and identify any anticipated exceptions to SBCTC's DSA.

f.

Describe your firm's security incident response and breach notification process, including how and when SBCTC would be notified of an incident involving SBCTC information.

g.

Describe your firm's business continuity and disaster recovery program, including testing frequency and, where applicable, recovery time objectives (RTO) and recovery point objectives (RPO) for systems supporting SBCTC.

h.

Describe your firm's policies governing data retention, secure destruction, and return of SBCTC data upon request or termination of the contract.

i.

Identify who the primary contact will be who works with out plan and what the succession plan your firm has in place.

SECTION 6

EVALUATION PROCESS

6.1 Overview

The Vendor who meets all of the RFP requirements and receives the highest number of total points as described below in Section 6.8, Vendor Total Score, will be declared the ASV and enter into contract negotiations with SBCTC.

6.2 Administrative Screening

Responses will be reviewed initially by the RFP Coordinator to determine on a pass/fail basis compliance with administrative requirements as specified in Section 3, Administrative Requirements. Evaluation teams will only evaluate Responses meeting all administrative requirements.

6.3 Mandatory Requirements

Responses meeting all of the administrative requirements will then be reviewed on a pass/fail basis to determine if the Response meets the Mandatory requirements. Only Responses meeting all Mandatory requirements will be further evaluated. Providing pricing information to SBCTC is always a Mandatory requirement.

SBCTC reserves the right to determine at its sole discretion whether Vendor’s response to a Mandatory requirement is sufficient to pass. If, however, all responding Vendors fail to meet any single Mandatory item, SBCTC reserves the following options: (1) cancel the procurement, or (2) revise or delete the Mandatory item.

6.4 Qualitative Review and Scoring Only Responses that pass the administrative screening and Mandatory requirements review will be evaluated and scored based on responses to the scored requirements in the RFP. Responses receiving a “0” on any Mandatory Scored (MS) element(s) may be disqualified.

Each scored element in Section 5 of the Response will be given a score by each team evaluator. Then, the scores will be totaled and a score for each Vendor will be calculated as set forth below. This will be used in the calculation of Vendor’s total score.

Evaluation points will be assigned based on the effectiveness of the Response to each requirement. A scale of zero to ten will be used, defined as follows:

6.5 Price Scoring Vendors must submit a cost proposal that includes all costs for the services proposed.

The evaluation process is designed to award this procurement not necessarily to the vendors of least cost, but rather to the vendors whose proposed services best meet the requirements of this RFP, while providing the best value. Vendors are encouraged to submit proposals which are consistent with state government efforts to conserve state resources. Also, because price is scored, it will be a factor in this competitive process.

Describe any and all fees for your service to your plan under this proposal. Please provide a total overall price for up to 5 years (1 year for the initial term of potential contract and all 4 years of extensions).

6.5.1 Identification of Costs

Identify all costs in U.S. dollars including expenses to be charged for performing the services necessary to accomplish the objectives of the contract. The vendor is to submit a fully detailed budget including staff costs and any expenses necessary to accomplish the tasks and to deliver and maintain the proposed solution for the initial term of the contract.

Consultants are required to collect and pay Washington state sales and use taxes, if applicable.

Costs for subcontractors are to be broken out separately. Please note if any subcontractors are certified by the Office of Minority and Women’s Business Enterprises.

6.6 Allocation of Points The following weighting and points will be assigned to the proposal for evaluation purposes:

TOTAL

100 points

6.7 Vendor Total Score Vendors will be ranked using the Vendor’s Total Score for its Response, with the highest score ranked first and the next highest score ranked second, and so forth.

6.8 Selection of Apparent Successful Vendor

The Vendor with the highest Vendor total score will be declared the Apparent Successful Vendor (ASV). SBCTC will enter into contract negotiations with the ASV. Should contract negotiations fail to be completed within ten (10) days after initiation, SBCTC may immediately cease contract negotiations and declare the Vendor with the next highest score as a new ASV and enter into contract negotiations with that Vendor. This process will continue until the Contract is signed or no qualified Vendors remain. Note: this Section (6.8) is to be distinguished from Section 3.16 “Contract Requirements”. Section 3.16 refers to the Vendor’s obligation to sign a final Contract within seven (7) business days of receipt from SBCTC. Section 6.8’s time limitation refers to the contract negotiations that are intended to result in a final Contract. If no final Contract is reached in ten (10) days per Section 6.8, then the process for proceeding to the next Vendor for negotiations is followed. The time requirement stated in Section 3.16 does not begin until a final negotiated contract exists.

TC “Appendices “\l 4\n TC “Appendix A: Certifications and Assurances”\l 5\n

APPENDIX A

CERTIFICATIONS AND ASSURANCES

Issued by the State of Washington

We make the following certifications and assurances as a required element of the Response, to which it is attached, affirming the truthfulness of the facts declared here and acknowledging that the continuing compliance with these statements and all requirements of the RFP are conditions precedent to the award or continuation of the resulting Contract.

The prices in this Response have been arrived at independently, without, for the purpose of restricting competition, any consultation, communication, or agreement with any other offeror or competitor relating to (i) those prices, (ii) the intention to submit an offer, or (iii) the methods or factors used to calculate the prices offered. The prices in this Response have not been and will not be knowingly disclosed by the offeror, directly or indirectly, to any other offeror or competitor before Contract award unless otherwise required by law. No attempt has been made or will be made by the offeror to induce any other concern to submit or not to submit an offer for the purpose of restricting competition. However, we may freely join with other persons or organizations for the purpose of presenting a single proposal or bid.

The attached Response is a firm offer for a period of 120 days following the Response Due Date specified in the RFP, and it may be accepted by SBCTC without further negotiation (except where obviously required by lack of certainty in key terms) at any time within the 120-day period. In the case of protest, your Response will remain valid for 180 days or until the protest is resolved, whichever is later.

In preparing this Response, we have not been assisted by any current or former employee of the state of Washington whose duties relate (or did relate) to the State's solicitation, or prospective Contract, and who was assisting in other than his or her official, public capacity. Neither does such a person nor any member of his or her immediate family have any financial interest in the outcome of this Response. (Any exceptions to these assurances are described in full detail on a separate page and attached to this document.)

We understand that the State will not reimburse us for any costs incurred in the preparation of this Response. All Responses become the property of the State, and we claim no proprietary right to the ideas, writings, items or samples unless so stated in the Response. Submission of the attached Response constitutes an acceptance of the evaluation criteria and an agreement to abide by the procedures and all other administrative requirements described in the solicitation document.

We understand that any Contract awarded, as a result of this Response will incorporate all the solicitation requirements. Submission of a Response and execution of this Certifications and Assurances document certify our willingness to comply with the Contract terms and conditions appearing in Appendix B, or substantially similar terms, if selected as a contractor. It is further understood that our standard contract will not be considered as a replacement for the terms and conditions appearing in Appendix B of this solicitation.

We (circle one) are / are not submitting proposed Contract exceptions.

Vendor Signature

Vendor Company Name

Title

Date

APPENDIX B

Proposed CONTRACT TC “Appendix B: Proposed Contract”\l 5\n Terms and Conditions

For Retirement Consulting Services To be posted separately on the WEBS site

APPENDIX C

OMWBE Participation Form TC “Appendix C: OMWBE Participation Form [if applicable]”\l 5\n Minority and Women's Business Enterprises (OMWBE)

Participation Form OMWBE participation is defined as: Certified MBEs and WBEs bidding as prime contractor, or prime contractor firms subcontracting with certified OMWBEs. For questions regarding the above, contact Office of OMWBE, (360) 753-9693.

*Certification number issued by the Washington State Office of Minority and Women's Business Enterprises.

Name of Vendor completing this Certification: ______________________________________________

APPENDIX D

PROTEST PROCEDURES TC “Appendix D: Protest Procedures”\l 5\n A.

Procedure

This protest procedure is available to Vendors who submitted a Response to this solicitation and have received a debriefing conference. Protests are made to SBCTC after SBCTC has announced the ASV. Vendor protests shall be received, in writing, by SBCTC within five (5) Business Days after the Vendor debriefing conference.

B.

Grounds for protest are:

1.

Arithmetic errors were made in computing the score;

2.

The agency failed to follow procedures established in the solicitation document or applicable state or federal laws or regulations; or

3.

There was bias, discrimination or conflict of interest on the part of an evaluator.

Protests not based on these criteria will not be considered.

C.

Format and Content

Vendors making a protest shall include in their written protest to SBCTC all facts and arguments upon which the Vendor relies. Vendors shall, at a minimum, provide:

1.

Information about the protesting Vendor; name of firm, mailing address, phone number and name of individual responsible for submission of the protest;

2.

Information about the acquisition; issuing agency, acquisition method;

3.

Specific and complete statement of the agency action(s) being protested;

4.

Specific reference to the grounds for the protest; and

5.

Description of the relief or corrective action requested.

D.

Review Process

Upon receipt of a Vendor's protest, SBCTC will postpone signing a Contract with the ASV until the Vendor protest has been resolved.

SBCTC, or a representative from another state agency, will perform an objective review of the protest, by individuals not involved in the acquisition process being protested. The review shall be based on the written protest material submitted by the Vendor and all other relevant facts known to SBCTC.

The reviewer will render a written decision to the Vendor within five (5) Business Days after receipt of the Vendor protest, unless more time is needed. The protesting Vendor shall be notified if additional time is necessary.

E.

Determination

The final determination shall:

1.

Find the protest lacking in merit and uphold the agency’s action;

2.

Find only technical or harmless errors in the agency’s acquisition process conduct, determine the agency to be in substantial compliance, and reject the protest;

3.

Find merit in the protest and provide the agency with options that may include:

a) Correct errors and reevaluate all proposals; or

b) Reissue the solicitation document; or

c) Make other findings and determine other courses of action as appropriate.

4.

Not require the agency to award the…