SECTION_457(B)_DEFERRED_COMPENSATION_PLAN_RETIREMENT_PLAN_RECORD_KEEPING_SERVICES.pdf

REQUEST FOR PROPOSAL

2026-RFP-156

SECTION 457(B) DEFERRED COMPENSATION PLAN RETIREMENT

PLAN RECORD KEEPING SERVICES

Pierce County

1501 Market St, Suite 420

Tacoma, WA 98402

RELEASE DATE: June 26, 2026

DEADLINE FOR QUESTIONS: July 10, 2026

RESPONSE DEADLINE: July 22, 2026, 4:00 pm

RESPONSES MUST BE SUBMITTED ELECTRONICALLY TO:

Request For Proposal #2026-RFP-156 Title: SECTION 457(B) DEFERRED COMPENSATION PLAN RETIREMENT PLAN RECORD KEEPING SERVICES https://procurement.opengov.com/portal/piercecountywa https://procurement.opengov.com/portal/%7bproject.government.code%7d

Pierce County

REQUEST FOR PROPOSAL

SECTION 457(B) DEFERRED COMPENSATION PLAN RETIREMENT PLAN

RECORD KEEPING SERVICES

1. Introduction

2. Pierce County's eProcurement System

3. Summary

4. Background

5. Objective/Scope of Work

6. Minimum Qualifications

7. Anticipated Contract Details and Expectations

8. Definitions

9. ADA

10. General Information for Proposers

11. RFP Coordinator

12. Timeline

13. Procurement Documents and RFP Holder's List

14. Questions and Answers

15. Submission of Proposals

16. Public Records and Proprietary Material

17. Revisions to the RFP

18. Responsiveness

19. Contract and General Terms & Conditions

20. Costs to Prepare Proposal

21. No Obligation to Contract

22. Rejection of Proposals

23. Most Favorable Terms

24. Concern Resolution Process

25. Cooperative Purchasing

26. Title VI Compliance

27. RFP Questionnaire

28. Administrative, Organization, Threshold Review and Proposal Questions .

29. Evaluation and Scoring

30. Evaluation Process

31. Proposal Scoring Method

32. Scoring Criteria

33. Notification to Proposers

34. Debriefing of Unsuccessful Proposers

35. Protest Procedure

Attachments:

A - Sample_Services_Agreement

B - Current Investment Options_Asset Balance

C - 5 year chart

1. Introduction

1.1. Pierce County's eProcurement System

Welcome to Pierce County's eProcurement System. This system is inclusive to the procurement process, including submission of any questions and/or clarifications, the release of any addenda/notices, and submission of proposals. It is strongly encouraged that organizations responding to any procurement first read the entire procurement, paying close attention to the timelines, scope of work, eligibility, submission requirements, and specifically to the questionnaire section, which may include required attachments (when applicable), and ask for any clarifications regarding content and instructions early in the process.

1.2. Summary

Pierce County, Washington (hereinafter “County” or “Plan Sponsor”) is soliciting proposals from qualified firms (hereinafter “Proposing Firm(s)” or “Firm(s)”) to provide retirement plan administrative services such as recordkeeping, education, communications, and investment-related services for its current 457(b) deferred compensation plan (hereinafter “Plan”).

1.3. Background

The County is a public agency with approximately 3,200 employees eligible for the Plan. Employees are paid bi-weekly through one centralized payroll system for a total of 26 pay periods annually. The County uses Workday for its payroll administration system. All active full-time County employees participate in the Public Employees’ Retirement System administered by the Washington Department of Retirement

Systems. There are approximately 50 separate locations/buildings located throughout the County.

Regarding employee outreach, it would be expected that a record keeper representative visit each of the County worksites as part of their initial and ongoing participant education efforts. This last point is important to the Committee and participants; on-site participant representative(s) delivering education and other services in-person are highly valued.

The County currently uses Nationwide to provide basic administration, enrollment, participant communication and education, investment management and record keeping services for the Plan and its participants. As of March 31, 2026, there was approximately $350 million in the Plan.

1.4. Objective/Scope of Work

1.4.1. Description of Solicited Services

SCOPE OF WORK

1) Plan Setup, Transition, and Ongoing Administration Framework

• Plan implementation and onboarding

• Transition planning, procedures, and coordination of conversion activities

• Data mapping and conversion from prior recordkeeper; historical data import and reconciliation

• Plan document review, maintenance, and setup; summary plan description drafting

• Establishment of plan-specific business rules and eligibility criteria

• Administrative training and support for HR, payroll, and administrative teams to ensure accurate processing and compliance

2) Participant Recordkeeping and Account Maintenance

• Eligibility tracking; processing new enrollments

• Enroll new participants and support existing participants with account updates

• Establish and maintain participant accounts and election percentages

• Maintenance of money classifications; vesting tracking

• Beneficiary designation and maintenance; address maintenance

• Maintain/update participant data necessary to support plan administration; daily audit and reconciliation of plan and participant accounts

3) Payroll and Contribution Processing

• Process regular and ad-hoc payroll contributions via payroll files

• Support multiple payroll frequencies and sources

• Automated validation and error reporting

• Coordination of contribution and maintenance file delivery

4) Investment Administration, Trust and/or Custody

• Trust and/or custody services

• Daily plan- and participant-level accounting for all investments and money classifications; daily valuation of participant accounts

• Trade execution and settlement

• Investment fund mapping and changes; rebalancing and participant-directed investment election changes

• Provide plan investment information to participants via phone/electronic/other means

• Support custom investment options (e.g., stable value, self-directed brokerage), if applicable

5) Compliance Support, Testing, and Regulatory Updates

• Contribution limit monitoring (e.g., 402(g), 415(c))

• Required employee notification preparation and distribution

• Provide legislative/regulatory updates and fiduciary training; keep sponsor informed of evolving regulations and required changes

6) Participant Services, Service Center, and Transactions

• Participant call center availability and service center support

• Secure participant website for account access and transactions; participant resource site for documents, tools, and updates

• Educational tools and retirement planning calculators

• Loans: modeling/processing and repayment tracking

• Distributions and related processing:

o Hardship withdrawals; in-service distributions o RMD processing and participant communications o Termination distributions (lump sum/installment); mandatory de minimis distributions o Rollover contributions into the plan o DRO qualification and processing o 1099-R preparation and distribution

• Quarterly participant statement preparation and distribution

7) Plan Sponsor Services, Governance Support, and Reporting

• Secure plan sponsor portal/web access with current and historical plan/participant reporting

• Plan sponsor website support, including plan and participant reporting; online features to streamline administration

• Custom reporting/analytics, plan health dashboards, and regular reporting on plan activity, contributions, participation trends, and performance metrics

• Dedicated retirement plan account manager to support operations, resolve issues, coordinate training, and help maintain efficient plan management

• Support plan amendments and updates

• Participation/attendance at quarterly and other on-site plan sponsor meetings to provide updates, review performance, and support fiduciary decision-making

8) Communication, Education, Engagement, and Financial Wellness

• Customized participant communication strategy; enrollment materials and campaigns; targeted messaging based on fairly specific demographics

• Multi-channel distribution methods targeted to broad groups such as text, email, app notifications, etc.

• On-site or virtual education sessions/visits (individual and group) on investment and retirement planning topics

• Financial wellness tools and resources

• Weekly financial education webinars on budgeting, saving, investing, retirement readiness, and broader wellness topics

• Financial planning consultations (one-on-one availability) to help employees clarify goals and drive behaviors toward those goals

• Plan design and participant education recommendations to optimize plan design and participant outcomes

1.4.2. Deliverables

Administer Section 457 (B) Deferred Compensation Plan.

1.5. Minimum Qualifications

1.5.1. Proposer Eligibility

Proposers who do not meet these minimum qualifications will be considered non-responsive and their proposal will not be evaluated or scored.

Minimum Qualifications for Request for Proposals (RFPs)

A. Experience and Expertise: The proposing firm must have at least ten years of experience administering governmental 457(b) deferred compensation plans. They must currently manage at least six 457(b) deferred compensation retirement plans, each with assets of at least $350 million.

B. No Charges or Penalties: Any contract must state that there will be no front-end or back-end charges. There will be no restrictions or penalties for any plan- or participant-initiated transfers or withdrawals, except for specific provisions like equity wash or mutual fund-specific short-term trading fees.

C. Full Disclosure of Expenses: The proposing firm must fully disclose all fund expenses and revenue sharing arrangements for all funds offered within the plan. This includes an accurate assessment of product expenses and revenue for Fixed or General Account products.

D. Service Expenses Disclosure: The proposing firm must fully disclose all expenses and revenue for any services available under the plan, such as managed accounts, investment advice, financial planning, or self-directed brokerage accounts.

E. Product Promotion Restrictions: The proposing firm must agree not to sell or promote products not directly affiliated with the plan unless given specific, written authorization by the County.

F. Qualification to Do Business: Upon contract award, the proposing firm must be qualified to do business in the State of Washington.

G. Compliance with Regulations: The proposing firm must comply with all applicable State of

Washington and federal regulations regarding governmental retirement plans and investment options. All applicable laws of the State of Washington will apply to this contract.

H. Consistency in Terms: The terms outlined in the RFP response and any enhancements must remain in place through negotiations and be part of the final contract unless specifically waived by the County in writing.

1.6. Anticipated Contract Details and Expectations

1.6.1. Term

The initial period of performance of any contract resulting from this procurement is anticipated to begin on or around 10/01/2026 and end on 09/30/2027. Amendments extending the period of performance, if any, shall be at the sole discretion of the County. The County reserves the option to extend contracts for 4 additional terms of 12 months each. However, no Contractor will be guaranteed an extension.

1.6.2. Value

The total value of this procurement is to be determined. The County anticipates awarding a single contract from this procurement. The County reserves the right to make no award, based on the quality and scope of proposals received, available funding, and identified service needs.

Additional federal, State, or local funds may become available during the contracting cycle and allocated through this solicitation. Funding may only be awarded for the same scope of services as described in this solicitation. It is important to note, any contract awarded as a result of this procurement is contingent upon the availability of funding. If at any time during the term of the contract the funding relied upon for the contract is reduced, modified, or eliminated, or if the funding terms are modified, Pierce County reserves the right to amend the contract as appropriate or to terminate the contract.

1.7. Definitions

• “Apparently Successful Proposer (ASP)” means a proposer selected as an entity to perform the anticipated services, subject to completion of contract negotiations and execution of a written contract.

• "Applicant," "Bidder," and "Proposer" mean an organization, agency or provider that submits a formal response to this procurement.

• "Application," "Bid," or "Proposal" mean a formal response to this solicitation.

• “CFR” means Code of Federal Regulations.

• “Client,” "Participant," "Household," or "Member" means an individual (or individuals) who receives services, or is eligible to receive services, under this procurement.

• “Contractor” means an individual or organization whose proposal has been accepted by the

County and has been awarded a fully executed, written contract.

• “Procurement” means the process by which the County obtains services.

• “Request for Proposal (RFP)” or "Solicitation" means this document and its attachments in which needed goods and/or services are identified and organizations are invited to provide information as to how they propose to meet the County's needs.

• “RCW” means Revised Code of Washington.

• “WAC” means Washington Administrative Code.

1.8. ADA

The County complies with the Americans with Disabilities Act (ADA). Bidders should contact the RFP

Coordinator to request an accommodation.

2. General Information for Proposers

2.1. RFP Coordinator

The RFP Coordinator is the sole point of contact in the County for this procurement. All communications between the Proposer and the County upon release of this RFP shall be with the RFP Coordinator.

Aaron Bible

PCS II

Email: aaron.bible@piercecountywa.gov

Phone: (253) 798-7456

Department:

Procurement and Contract Services

Any other communication will be considered unofficial and non-binding on the County. Proposers are to rely on written statements issued by the RFP Coordinator. Communication directed to parties other than the RFP Coordinator may result in disqualification of the Proposer.

2.2. Timeline

Proposal Release Date: June 26, 2026

Question Submission & Concern Resolution

Request Deadline:

July 10, 2026, 4:00pm

Proposal Submission Deadline: July 22, 2026, 4:00pm

Estimated Date of Contract Execution: September 2026

The County reserves the right to revise the above timeline.

2.3. Procurement Documents and RFP Holder's List

PROPOSERS WHO REGISTER AND DOWNLOAD RFP DOCUMENTS will be automatically added to the

FOLLOWERS' list in the County's eProcurement Portal. Notifications for solicitation updates, addendum and other procurement information will be sent to all who register on the Pierce County eProcurement

Portal.

2.4. Questions and Answers

Proposers may submit questions through the County's eProcurement Portal, under the Question &

Answer Section, no later than 4:30 pm on the date set forth in Section 2.2. Proposers must be registered in the eProcurement Portal software to submit questions, receive addendums and notifications, and ultimately submit a proposal. Proposers may only rely on written statements issued by the County. Any oral communications are unofficial and are not binding on the County.

2.5. Submission of Proposals

2.5.1. Deadline

The proposal must be received by the time/date as indicated in Section 2.2.

2.5.2. Attachments

Follow instructions carefully - if attachments are provided under this solicitation, they are to be utilized as part of the proposal - do not replace or use the organization's own format, as the proposal may be deemed "non-responsive" or "not eligible."

2.5.3. Instructions

All proposals are evaluated on the completeness and quality of the content. Only those Proposers providing complete information as required will be considered for evaluation. The County will not contact the organization for correction of proposals and Proposers are strongly encouraged to carefully review their proposals for completeness and accuracy before submitting. For proposals to be considered responsive and move to the review process, the Proposer must, under Section 3, RFP Questionnaire:

• Acknowledge all required “confirmations.”

• Complete all required attachments, to include uploading any supplemental documents requested in attachments; and

• Submit the following materials as part of the proposal.

o (List the required attachments)

2.5.4. Additional Resources/Helps

This section provides a curated list of help articles addressing common questions and challenges proposers may encounter during the Request for Proposal process. The resources below are intended to offer clear guidance, practical solutions, and relevant information to support a smooth and successful submission. Proposers are encouraged to review these materials as needed to better understand requirements, resolve issues, and navigate the process with confidence.

• Vendor Registration

• Following a Project

• Getting Started with Subscriptions

• How to Submit a Question in OpenGov

• How to Submit a Proposal Response in OpenGov

• How to Edit or Withdraw a Proposal after Submission in OpenGov https://opengov.my.site.com/support/s/article/dceacbcf-203c-4b0d-aa57-550043bb0dc0 https://opengov.my.site.com/support/s/article/82615c2a-a6e1-46ed-9b33-ec542acf013d https://opengov.my.site.com/support/s/article/c7a5affa-e073-4d5a-8d87-b6eadcf343a9 https://opengov.my.site.com/support/s/article/12c62371-147b-45f4-9bcd-cf2ce5f58259 https://opengov.my.site.com/support/s/article/8e675a48-dad3-4759-9bae-6b4cb7970d21 https://opengov.my.site.com/support/s/article/4f4218bf-7da6-4fc6-b0c3-7eade0776ebe

2.5.5. Electronic Submissions Only

Only electronic submittal via the County's eProcurement Portal shall be accepted for this procurement.

No hard copies, emails, or fax submittals shall be accepted. The accepted forms of submitted materials are .pdf, png., jpeg., and MS Office formats such as docx. and xlsx.

2.5.6. Addenda & Notices

Proposers must acknowledge and confirm each addendum and notice issued under this solicitation. The system will not allow final submission unless all required confirmations are checked.

2.5.7. No Exceptions for Late Responses

Proposers should allow sufficient time to ensure timely receipt of the proposal by the County’s e-procurement System, OpenGov. Late responses will not be accepted and will be automatically disqualified. The County assumes no responsibility for delays caused by Proposer's technical related system errors.

2.5.8. County Property

All proposals and any accompanying documentation become the property of the County and will not be returned.

2.6. Public Records and Proprietary Material

• Organizations should be aware that any records they submit to the County or that are used by the County even if the organization possess the records, may be public records under the

Washington Public Records Act (RCW 42.56). The County must promptly disclose public records upon request unless a statute exempts them from disclosure. Organizations should also be aware that if even a portion of a record is exempt from disclosure, generally, the rest of the record must be disclosed. Exemptions are narrow and specific.

• Organizations should clearly mark any record they believe is exempt from disclosure.

2.7. Revisions to the RFP

In the event it becomes necessary to revise any part of this RFP, addenda will be published in the

County's eProcurement Portal.

All amendments and notifications of cancellation shall be posted in the County's eProcurement Portal. If you did not receive this solicitation via the County’s eProcurement Portal, please register there to receive further notifications.

The County also reserves the right to amend or add to, retract from, or cancel this Procurement at any time, in whole or in part, and without penalty.

In the event of a conflict between amendments or between an amendment and this Solicitation

Document, the document issued latest in time shall control.

2.8. Responsiveness

All proposals will be reviewed by the RFP Coordinator to determine compliance with administrative requirements and instructions specified in this solicitation. The Proposer is specifically notified that the

County may reject or withdraw a proposal at any time as nonresponsive for any of the following reasons:

• Incomplete proposal,

• Failure to comply with any part of this solicitation or any Attachments to this procurement,

• Submission of incorrect, misleading, or false information.

The County also reserves the right, however, at its sole discretion to waive minor administrative irregularities, which are defined as variances which do not provide a proposer an advantage or benefit over other proposers.

2.9. Contract and General Terms & Conditions

The ASP will be expected to enter into a contract which is substantially the same as the Sample Contract and its General Terms and Conditions attached as Exhibit C. In no event is a Proposer to submit its own standard contract terms and conditions in response to this solicitation. If a Proposer has a concern regarding a certain General Term & Condition, they can raise the issue per the Questions and Answers section of this solicitation.

2.10. Costs to Prepare Proposal

The County will not be liable for any costs incurred by the Proposer in preparation of a proposal submitted in response to this RFP, in conduct of a presentation or interview, or any other activities related to responding to this RFP.

2.11. No Obligation to Contract

This RFP does not obligate the County to contract for services specified herein.

2.12. Rejection of Proposals

The County reserves the right at its sole discretion to reject any and all proposals received without penalty and not to issue a contract as a result of this RFP.

2.13. Most Favorable Terms

The County reserves the right to make an award without further discussion of the proposal submitted. Therefore, the proposal should be submitted initially on the most favorable terms which the

Proposer can offer. There will be no best and final offer procedure.

The ASP should be prepared to accept this RFP for incorporation into a contract resulting from this

RFP. Contract negotiations may incorporate some or all of the Proposer’s proposal. It is understood that the proposal will become a part of the official procurement file on this matter without obligation to the County.

2.14. Concern Resolution Process

This procedure is available to potential Proposers who are contemplating submitting a proposal in response to this RFP. Only Concern Resolution submissions (Submissions) concerning the following subjects shall be considered:

• A claim that the solicitation unnecessarily restricts competition.

• A claim the solicitation evaluation or scoring process is unfair or flawed, or

• A claim the solicitation requirements are inadequate or insufficient to prepare a response.

Proposers submitting a concern about this procurement shall follow the procedures described below. Submissions that do not follow these procedures shall not be considered. If a Proposer registers a concern against this solicitation, the issue(s) cannot be raised again during the protest period.

All submissions must be in writing and signed by the submitting party or an authorized Agent. The submission must be sent to the Procurement Coordinator, or designee, and needs to be received no later than 4:00 pm, local time, Tacoma, WA, per Section 2.2 Timeline, and must clearly articulate the basis for the submission. The Proposer submitting a concern must also include a proposed remedy.

Upon receipt of a submission, a submission review will be held by the County. The RFP coordinator will respond to submissions in writing and the Finance & Enterprise Services Department Director will be notified of all submissions and provided a copy of the County’s response. A copy of the response to the submission, including any changes to the solicitation, will also be posted in County's eProcurement

Portal.

The concern resolution process does not include an appeal process.

2.15. Cooperative Purchasing

The Washington State Interlocal Cooperation Act, Ch. 39.34 RCW, authorizes public agencies to cooperatively purchase goods and services if all parties agree. By responding to this RFP, Consultants agree that other public agencies may purchase goods and services under this procurement or contract at their own cost and without Pierce County incurring any financial or legal liability for such purchases.

Pierce County agrees to allow other public agencies to purchase goods and services under this procurement or contract, provided that Pierce County is not held financially or legally liable for purchases and that any public agency purchasing under such procurement or contract file a copy of this invitation and such contract in accordance with RCW 39.34.040.

2.16. Title VI Compliance

Pierce County, in accordance with Title VI of the Civil Rights Act of 1964, 78 Stat. 252, 42 U.S.C. 2000d to

2000d-4 and Title 49, Code of Federal Regulations, Department of Transportation, subtitle A, Office of the Secretary, Part 21, nondiscrimination in federally assisted programs of the Department of

Transportation issued pursuant to such Act, hereby notifies all Proposers that it will affirmatively ensure that in any contract entered into pursuant to this advertisement, disadvantaged business enterprises as defined at 49 CFR Part 26 will be afforded full opportunity to submit proposals in response to this invitation and will not be discriminated against on the grounds of race, color, or national origin in consideration for an award.

3. RFP Questionnaire

3.1. Administrative, Organization, Threshold Review and Proposal Questions

1. Administrative Questions Responses Guidelines:

1. Clarity and Conciseness: Keep your responses clear and concise.

2. Yes/No Questions: For questions marked with a (Yes/No) response, provide an explanation only if requested. If no explanation is requested, simply answer Yes or No.

3. Explanations: When an explanation is requested, be succinct and focus on the primary and most important aspects related to the specific question/request.

4. Tables: If a question includes a table, you may create your own table that replicates the one in the RFP document. Ensure it does not take up more space than the sample table.

5. Multiple Questions: For items that request responses to multiple questions, use separate spacing or bullet points for each response.

6. Assumptions: Assume all assets and participant accounts will be serviced by one firm.

Remember the liquidity restriction mentioned in the Early Withdrawal or Termination Provisions section.

Questions:

A. Provide single contact for all matters related to this RFP.

Name:

Title:

Firm:

Address:

Phone number:

E-mail:

B. Complete the following for the primary local service representative that would work directly with participants.

Representative’s Name:

Years at Firm:

Years in industry:

Location (city, state):

Total number of client accounts serviced:

Total assets serviced:

Total number of participants serviced:

University degree(s) (BA/BS/MBA, etc. and school(s)):

Professional credential(s):

FINRA/Insurance license(s):

Typical work schedule (days and hours):

Anticipated turnaround time for returning emails and/or phone calls:

C. Complete the table for any person who would work directly with the Committee, such as a relationship manager.

Representative’s Name:

Years at Firm:

Years in industry:

Location (city, state):

Total number of client accounts serviced:

Total assets serviced:

Total number of participants serviced:

University degree(s) (BA/BS/MBA, etc. and school(s)):

Professional credential(s):

FINRA/Insurance license(s):

Typical work schedule (days and hours):

Anticipated turnaround time for returning emails and/or phone calls:

D. What is your recordkeeping fee assuming an open architecture investment menu (no use of proposed proprietary products)? Please provide 3-, 5-, and 10-year asset-based pricing under this scenario.

E. What is your recordkeeping fee assuming the use of proposed proprietary products (funds and/or services)? Please provide 3-, 5-, and 10-year asset-based pricing under this scenario.

F. List out those required proprietary products (funds and/or services) for enhanced pricing above.

A. Please provide the current or initial crediting rate and the length of time that rate is guaranteed for the Stable Value/Fixed option.

B. What are the additional rate guarantees for subsequent contract years?

C. Provide the floor rate as applicable.

D. Are there any surrender charges, contingent deferred sales charges, market value adjustments and/or other charges associated with a contract termination and subsequent transfer of plan assets to another provider?

E. If yes, please provide a description of the contract provision as well as how such charges are calculated.

F. Are there any liquidity restrictions on the Plan or any particular investment option, such as a 12-month put or other timed withdrawal provision, if the Committee were to terminate its relationship and transfer assets to another provider?

G. Are there any liquidity restrictions at the participant level on the required proprietary investment option for enhanced pricing, such as a 90-day wash provision?

H. For this product(s), what is the structure or type of investment (general account, separate account, pooled fund, etc.)?

I. Would the rate on the Fixed Account, General Account, Stable Value, etc. option(s) change as the result of any termination and/or re-bid notice? Please describe.

J. Would any assets in proprietary funds sit on your Firm’s balance sheet?

K. Also describe the procedure required to give notice of termination of any and all required proprietary investment products.

G. The County utilizes onsite education for Plan participants through a local service representative.

The Committee would like to continue this service and is very interested in your ideas to optimize the education delivered to their participants. Based on the County’s demographic data and your Firm’s experience, complete the table below regarding your proposed on-site enrollment/education commitment. This response should be based upon the total days that could be committed to under the services contract. If partial service days are considered in the proposal, the partial service days should not be counted as full days, but rather as their proportional equivalent of each day (for example: two half days equal one full day under the contract).

Proposed annual number of on-site service days in Year 1:

Proposed annual number of on-site service days ongoing (after Year 1):

H. Will you offer participants comprehensive financial planning services? (Yes/No)

If yes, will you offer participants comprehensive financial planning services through a Certified Financial Planner? (Yes/No)

Is this person(s) an employee of your organization or subsidiary? (Yes/No)

I. Please provide a financial planning fee schedule.

Are fees for a financial planning service proposed by your Firm assessed to the entire participant population or only to those who use the service?

J. Describe the fee, if any, for providing investment advice, be it through the on-site representative using an online tool, or through the representative using some other program or approach.

K. Please provide a managed account fee schedule as well as a self-directed brokerage fee schedule.

L. Provide a list of all other participant-related administration expenses. Items such as loan fees and additional withdrawal processing expenses should be included.

Participant Administration Services

Cost of Services ($)

Loan set-up:

Loan maintenance:

Age 59.5 withdrawals:

Hardship withdrawals:

Required minimum distributions:

QDRO determination:

QDRO processing:

Stop payment:

Replacement 1099-R:

Wire transfer/ETF:

Other Disbursements:

M. Provide a list of all plan sponsor-related administrative expenses. This would include special reporting charges, legal fees, administrative processing fees, communications fees, QDRO administration fees, and plan document preparation fees (including any fees to maintain, update, and/or ensure compliance of such document with the Internal Revenue Code).

Plan Sponsor Administration Services

Cost of Services ($)

Plan reporting:

Plan document preparation:

Plan document maintenance:

Identifying population eligible for required minimum:

Lost participant/bad address search:

Assistance with audits:

Custom communications including customization of:

Plan-level fund changes:

Participant communication/mailing:

Others (list):

N. Identify any other participant or plan sponsor service fees not included above.

O. Briefly describe your data security process. Include a brief description of how access to participant data (current and archived) is controlled and monitored (i.e., who specifically can view participant account data, who can print this data, who can remove this data from your facility either on a laptop, memory stick, CD or as a printed report). Limit your response to 300 words.

P. Briefly describe your data back-up process. Limit your response to 300 words.

Q. How many system security breaches has your organization experienced in the last three years?

How many were under the current system?

R. How frequently is the security of your data assessed by external parties? State the date of the most recent verification and the party that performed it.

S. Briefly describe how indicative data, including Social Security numbers, is protected against fraud/theft (both internal and external threats), and what security protocols are in use to guard against fraud/theft? Limit your response to 300 words.

T. Describe the process your firm goes through in determining who bears the liability in any data security breach and/or whether your firm will make a participant whole in this instance.

U. Does your system use encryption in storage (Yes/No)? Does your system use encryption in transit (Yes/No)?

V. List performance guarantees, if any, you propose. Disclose the dollars you are willing to put at risk for failing to meet the proposed benchmarks.

1.1. Proposer Confirmation*

As an authorized representative of the Proposer, having carefully examined the Request for Proposals, propose to furnish services in accordance therewith as set forth in the attached proposal.

I further agree that this proposal will remain in effect for not less than sixty (60) calendar days from the date that proposals are due, and that this proposal may not be withdrawn or modified during that time.

I hereby certify that this proposal is genuine and not a false or collusive proposal, or made in the interests or on behalf of any person not therein named; and I have not directly or indirectly induced or solicited any Contractor or supplier on the above work to put in a false proposal or any person or corporation to refrain from submitting a proposal; and that I have not in any manner sought by collusion to secure to myself an advantage over any other contractor(s) or person(s).

In order to induce the County to consider this proposal, the Proposer irrevocably waives any existing rights which it may have, by contract or otherwise, to require another person or corporation to refrain from submitting a proposal to or performing work or providing supplies to Pierce County, and Proposer further promises that it will not in the future directly or indirectly induce or solicit any person or corporation to refrain from submitting a response or proposal to or from performing work or providing supplies to Pierce County.

☐ Please confirm

*Response required

1.2. Ownership and Copyright of Submitted Materials*

By submitting a proposal, I agree that all documents, reports, proposals, submittals, working papers, or other materials prepared by the Proposer pursuant to this proposal shall become the sole and exclusive property of the County, and the public domain, and not property of the Proposer. The Proposer shall not copyright, or cause to be copyrighted, any portion of items submitted to the County in response to this procurement.

☐ Please confirm

*Response required

1.3. Supplemental Attachment Confirmation*

I confirm I have reviewed the content of the following attachments included under this RFP: Sample

Agreement and any other documents as identified as "sample" in the Attachments section and acknowledge I understand and agree to these requirements should my organization receive a contract as a result of this proposal.

☐ Please confirm

*Response required

1.4. Insurance Requirements*

By submitting a proposal, I understand and agree that if awarded funding from this RFP, the organization must be able to meet all insurance requirements based on services being purchased, prior to contract execution, and types of insurances may include, but are not limited to:

• Commercial General Liability Insurance: Required on all contracts. Standard levels are $1M occurrence/$2M aggregate (may be higher/lower, depending on value of contract and type of service).

• Commercial Automobile Liability Insurance: Required when the Contractor uses owned, rented, or leased automobiles to complete the services as required per the contract. Higher coverages may be required for fleet/large passenger vehicles.

• Workers Compensation Insurance: As required by Washington State.

• Professional Liability or Errors and Omissions Insurance: If the Contractor provides services such as analysis, consulting, counseling, daycare, legal, medical, nursing, pastoral, medical, or other services that require professional licensing.

• Cyber/Privacy and Security Insurance: If the Contractor is doing work that could give the

Contractor access to personal or sensitive information from within the County's network or on the Contractor's personal computer, or lead to breaches of security, leading to a loss of privacy or identity theft.

• Crime/Employee Dishonesty Insurance: If the Contractor is in the custody or control of Pierce

County funds such as cash, credit cards, checks or physical property.

• Other insurance(s) applicable to services being purchased: Such as Excess or Umbrella Liability

Insurance if the contract is in excess of $500,000.

In addition:

• Pierce County shall be named as an "Additional Insured" which must be provided in the insurance endorsement; and

• Insurance requirements also apply to any subcontractors hired by the main Contractor to deliver services, where applicable.

Please see "Exhibit D" in the SAMPLE AGREEMENT under attachments to see full insurance requirements. If you have questions regarding insurance requirements, please submit them through the “Question & Answer” section of the RFP.

☐ Please confirm

*Response required

1.5. Debarment Certification*

As an authorized representative of the Proposer, I certify to the best of my knowledge and belief that the organization and its principals:

A. Are not presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from covered transactions by any Federal department or agency;

B. Have not within a three-year period preceding this proposal been convicted of or had a civil judgment rendered against them for commission of fraud or a criminal offense in connection with obtaining, attempting to obtain, or performing a public (Federal, State, or local) transaction or contract under a public transaction; violation of Federal or State antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements, or receiving stolen property;

C. Are not presently indicted for or otherwise criminally or civilly charged by a government entity

(Federal, State, or local) with commission of any of the offenses enumerated in paragraph (1)(b) of this certification; and

D. Have not within a three-year period preceding this proposal had one or more public transactions

(Federal, State, or local) terminated for cause or default.

E. Does not employ any person nor contracts with any person or agency excluded from participation in federal health care programs under either 42 U.S.C. 1320a-7 (§§1128 or 1128A

Social Security Act) or debarred or suspended.

By checking the confirmation, I understand that a false statement on this certification may be grounds for rejection of this proposal or termination of any award. In addition, under 18 USC Sec. 1001, a false statement may result in a fine of up to $10,000 or imprisonment for up to 5 years, or both.

☐ Please confirm

*Response required

2. Organization Information

2.1. Authorized Individual*

Please provide the name and title of the individual authorized to execute a contract on behalf of the organization.

*Response required

2.2. Organization Information*

Please provide the legal name, any d/b/a names, years in business, local address, billing address if different, email address, and phone number of the organization making the proposal.

*Response required

2.3. Organization Tax ID Number*

Please provide the Employee Identification Number (EIN).

*Response required

2.4. Ownership Type*

Must choose at least two (2) answers: Profit status (1 or 2) and organizational structure (3, 4, 5, or 6).

Select all that apply

☐ 1. For Profit

☐ 2. Non Profit

☐ 3. Sole Proprietorship

☐ 4. Corporation/LLC/Partnership

☐ 5. City/County/State

☐ 6. Tribal Organization

*Response required

2.5. Organization Contacts*

Please provide the name, phone, and email for:

• Executive Director/CEO/President

• Financial Manager/CFO

• Contract Manager

*Response required

3. Threshold Review Questions

3.1. Washington State Unified Business Identification (UBI) Number*

Please provide the organization's UBI number.

WARNING: Failure to provide a UBI number will be cause for the application to be disqualified from competition.

*Response required

4. Scored Proposal Questions

4.1. Describe your firm’s ability to provide the proposed services given the scope of work and expected volume.*

*Response required

5. Plan Setup, Transition, and Ongoing Administration Framework

5.1. Describe your implementation and onboarding methodology, including key milestones, timelines, and assigned resources.

5.2. How do you manage plan transitions from a prior recordkeeper? Outline your conversion process, data mapping, and reconciliation steps.

5.3. What types of historical data can you convert, and how do you ensure accuracy during the import and reconciliation process?

5.4. Describe your process for plan document review, updates, and maintenance. Do you support drafting summary plan descriptions (SPDs)?

5.5. What is your approach to establishing plan-specific business rules, eligibility criteria, and administrative controls?

5.6. Describe the training and ongoing support you provide to HR, payroll, and administrative teams.

What formats and materials are included?

6. Participant Recordkeeping and Account Maintenance

6.1. Describe your tools and processes for eligibility tracking, new participant enrollment, and updates to existing participant account

6.2. How do you establish and maintain participant accounts, including elections and money type classifications?

6.3. Explain your vesting tracking methodology and system capabilities.

6.4. Describe your processes for beneficiary maintenance, address updates, and overall participant data management.

6.5. What daily account audits and reconciliations do you perform to ensure accurate plan and participant-level data?

7. Payroll and Contribution Processing

7.1. Describe your payroll file processing capabilities, including file formats, transmission methods, and validation steps.

7.2. Can you support multiple payroll frequencies and complex payroll environments? Provide details.

7.3. How does your system identify, flag, and communicate payroll file errors?

7.4. Describe your process for coordinating contribution and maintenance file delivery.

8. Investment Administration, Trust, and/or Custody

8.1. Describe your trust and/or custody services, including oversight and reporting.

8.2. Explain your daily accounting processes for participant and plan-level investments.

8.3. Describe your trade execution and settlement processes, including controls and timeliness standards.

8.4. How do you manage fund mapping, fund changes, rebalancing, and participant-directed investment changes?

8.5. What investment information do you make available to participants, and through which channels?

8.6. Do you support custom investment options (e.g., stable value, brokerage window)? Describe capabilities and requirements.

9. Compliance Support, Testing, and Regulatory Updates

9.1. Describe your processes and tools for monitoring contribution limits under sections 402(g) and

415(c).

9.2. What support do you provide for required employee notices, including preparation and distribution?

9.3. How do you keep plan sponsors informed about legislative and regulatory changes?

9.4. Do you offer fiduciary training? If so, describe format, frequency, and content.

10. Participant Services, Service Center, and Transactions

10.1. Describe your participant call center, including hours of operation, staffing model, service-level standards, and escalation procedures.

10.2. Describe your participant website features, including transaction capabilities, security features, and accessibility.

10.3. What educational tools and planning calculators do you offer participants?

10.4. Describe your loan processing workflow, modeling tools, and loan repayment tracking.

10.5. Explain your distribution processing capabilities, including hardship, in-service, RMDs, and terminations.

10.6. Describe your processes for handling rollover contributions into the plan.

10.7. What capabilities do you have for processing, tracking, and qualifying DROs?

10.8. Describe your process for preparing and distributing 1099-R forms.

10.9. How are participant statements generated and delivered?

11. Plan Sponsor Services, Governance Support, and Reporting

11.1. Describe your plan sponsor portal, including reporting capabilities, self-service features, and data availability.

11.2. Provide examples of standard and custom reporting, analytics, dashboards, or plan health metrics you offer.

11.3. Describe the role and responsibilities of the dedicated account manager assigned to the plan.

11.4. How do you support plan amendments, regulatory updates, and operational changes?

11.5. Will you participate in plan sponsor meetings (on-site or virtual)? Describe your support and meeting cadence.

12. Communication, Education, Engagement, and Financial Wellness

12.1. Describe your participant communication strategy, including customization options and targeted messaging capabilities.

12.2. What communication channels do you support (e.g., text, email, app notifications)?

12.3. Describe your ability to provide on-site or virtual participant education, including individual and group sessions.

12.4. What financial wellness resources, tools, or programs do you offer?

12.5. Do you offer weekly or ongoing educational webinars? Describe topics and attendance processes.

12.6. Describe the availability and scope of one-on-one financial planning consultations.

12.7. How do you use plan design analytics or participant data to make recommendations that improve participant outcomes?

12.8. Proposal Upload*

Please upload your proposal materials here.

*Response required

4. Evaluation and Scoring

4.1. Evaluation Process

The County intends to select the Contractor most qualified for this solicitation and begin the negotiation and award process based on the requirements of this solicitation.

Selected Proposer(s) will be invited to enter into contract negotiations with the County. Should the

County and the selected proposer not reach a mutual agreement, the County will terminate negotiations and move to the next ranked contractor and proceed with negotiations. A Proposer’s inability to agree to the terms of the County’s standard contract may be a basis for the County to terminate negotiations and begin negotiating with one or more other Contractors.

4.2. Proposal Scoring Method

Each evaluator will score the Proposals separately. The scores of all the evaluators will be averaged to determine the Proposer’s score.

4.3. Scoring Criteria

Points Available - Initial Evaluation:

Point Available - Interview:

Point Available - Executive Review:

Scoring

No. Evaluation Criteria Scoring Method Weight (Points)

1. Plan Setup, Transition, and Ongoing

Administration

5 – Excellent

• Provides a fully detailed transition plan with timeline, staffing, risk controls, and prior experience with similar plans.

• Shows strong data conversion, reconciliation, and plan document expertise.

• Demonstrates proactive onboarding support for HR/payroll.

4 – Strong

• Clear methodology, good detail on transition and data mapping.

• Evidence of structured processes with some customization.

3 – Adequate

• Describes general processes but lacks detail on risk mitigation or historical data handling.

2 – Weak

• Incomplete explanation; unclear responsibilities or weak data controls.

1 – Poor

• Major gaps in transition capability or lack of relevant experience.

0 – Unacceptable

• No response or cannot support required functions.

Weight: 15% Description: Measures vendor capability to manage onboarding, data conversion, plan documents, and readiness for long-term administration.

Score (0–5): ____ Weighted Score: Score × 0.15 = ______

Points Based 5 (12.5% of Total)

2. Participant Recordkeeping & Account

Maintenance

5 – Excellent

• Robust, automated systems for eligibility, enrollments, vesting, money types, beneficiaries, and daily audits.

• Strong accuracy controls and reporting;

proven performance metrics.

4 – Strong

• Describes full capabilities and automation, with moderate detail.

3 – Adequate

• Capable but generic; limited visibility into controls or quality assurance.

2 – Weak

• Missing details on accuracy, audit processes, or automation.

1 – Poor

• Unable to demonstrate reliable recordkeeping infrastructure.

0 – Unacceptable

Weight: 20% Description: Evaluates daily accuracy, account management, participant data integrity, vesting, and system reliability.

Score (0–5): ____ Weighted Score: Score × 0.20 = ______

3. Payroll & Contribution Processing

5 – Excellent

• Supports complex payroll environments with automation, file validation, error…