SOW_401a.pdf

This is a Request for Information (RFI) only as defined in FAR 15.201(e) to obtain information about capabilities and market information related to acquiring a 401(a) plan that will be used for planning purposes only. This RFI is not a request for competitive proposals; therefore, responses to this notice are not considered offers and cannot be accepted by the Government to form a binding contract. No formal solicitation for this work exists at this time.

THE GOVERNMENT DOES NOT INTEND TO AWARD A CONTRACT ON THE BASIS

OF THIS RFI OR REIMBURSE ANY COSTS ASSOCIATED WITH THE PREPARATION

OR SUBMISSION OF RESPONSES TO THIS RFI.

Responses:

Responses should be no more than 20 pages. Interested vendors should forward their responses to Regina Mumford-Rush at Mumford-RushR@sec.gov and Debora Coreas at CoreasD@sec.gov. Responses to this RFI are to be submitted by and RECEIVED by 1:00 p.m.

Eastern Standard Time (EST) on October 1, 2014. Responses must be single-spaced, Times New Roman, 12 point font, with one inch margins, and compatible with MS Office Word 2003, or later. Note: Late responses will not be considered nor will information provided beyond the 15 page limit.

Note: RFI responses will NOT be shared with other industry suppliers and will be solely used as part of the requirements analysis process.

Descriptions for SOWs

The SEC is considering the feasibility of establishing a new defined contribution retirement plan under Code section 401(a) for its employees. The plan would hold only employer contributions. The SEC is looking for one or more entities to act as Custodian, Trustee, and/or Recordkeeper for the plan. The assets will be invested in a savings account initially. The SEC may consider moving the assets into CDs or Treasury securities or some other secure vehicle at a later date. The SEC estimates that the trust will hold approximately $7 million by the end of 2014 with an annual expected increase in holdings of approximately $14 million. The SEC estimates that there will be approximately 3100 participants initially with an annual expected net increase of 200 participants per year. The plan would not allow participants to direct investments. The plan would not allow loans or hardship withdrawals. The initial plan assets would be 100% vested, but new investments would be subject to a 3-year vesting period.

The services to be provided by a Trustee would include:

mailto:Mumford-RushR@sec.gov mailto:CoreasD@sec.gov

• keeping the assets in trust

• determining the best means of safeguarding the investments within the limits of FDIC insurance

The services to be provided by a Custodian would include:

• providing information to the Recordkeeper to enable the Recordkeeper to maintain participant-level accounts

• following instructions regarding withdrawals and distributions

• providing trust reconciliation reports on a monthly basis

The services to be provided by a Recordkeeper would include:

• maintaining participant account records

• sending quarterly statements to participants

• maintaining a website and/or call center for participant inquiries

• creating forms for plan administration and processing withdrawals and distributions

• tax withholding and reporting

• coordinating with the main plan for SEC employees, the Thrift Savings Plan

(TSP), for Code section 415 testing purposes

Please provide information regarding your experience as a Trustee, Custodian, and/or Recordkeeper (as applicable) for qualified plans (including governmental plans, if applicable), a fee estimate, and an estimated “go live” date if you were hired. Please also include your data security protocols, your level of insurance coverages, and any other qualifications you want the SEC to consider.

Insurer:

The SEC is considering the feasibility of establishing a new defined contribution retirement plan under Code section 401(a) for its employees. The plan would hold only employer contributions. The SEC estimates that the assets held in trust will total approximately $7 million by the end of 2014 with an annual expected increase in holdings of approximately $14 million. The plan’s assets will be invested in a savings account initially. The SEC may consider moving the assets into CDs or Treasury securities or some other secure vehicle at a later date. In the event that the investments are not fully protected by FDIC insurance, the SEC is looking for an insurer who would provide coverage on the non-FDIC-insured amount in the event of default.

Please provide information regarding your experience insuring amounts up to $250 million, your experience insuring amounts exceeding $250 million (if applicable), a fee estimate, and any other qualifications you want the SEC to consider.

Responses: